Allen Lambert
Encyclopedia
Allen Thomas Lambert, OC
(1911 – October 25, 2002) was a Canadian
banker and former Chairman of the Toronto-Dominion Bank
.
branch of the Bank of Toronto
in 1927 as an $8-per-week junior clerk. He was recognized as a promising banker early in his career. His first manager reported that the young Lambert was “doing very well and seems to have a good grasp of his work. This boy has a good future.” Promoted to Accountant in a Vancouver
branch, he moved on to Brockville and then to the foreign exchange department at the Montreal
main branch. He later observed that “We always tried to read something into every move and it was generally thought that if you were selected to go to Montreal
someone had noticed you." After service as a naval officer in the North Atlantic during World War II
, Lambert became manager of the Yellowknife
branch during the gold boom of the late 1940s, and then began a rapid rise through the ranks. He became Assistant General Manager in 1953 and was one of those most intimately involved in the negotiations for the merger of the Bank of Toronto
and the Dominion Bank
in 1955. As General Manager of the new Toronto-Dominion Bank
he managed the delicate business of uniting two corporate cultures and building a style and image for a renewed and ambitious organization.
(TD) in 1960 and Chairman the following year. The bank was not in the first rank of financial institutions at the time, and he later recalled that “we had all gone through a period of frustration at being smaller than the others, and not being quite able to compete fully.” Over the eighteen years of Lambert’s leadership, TD became Canada’s fastest growing bank and a major presence on the international financial scene. Lambert toured the world seeking business opportunities, opening local offices, and building solid relationships with major clients. He was a tireless promoter of customer service, ensured that the Bank was an innovator in technology, and promoted progressive training and benefit programs for employees. He started TD’s corporate art program and, as a centennial project in 1967, developed one of Canada’s foremost collections of Inuit
art. He combined a demanding life in business with a remarkable record of public and community service, chairing royal commissions and federal advisory bodies, serving as a member of international organizations, and acting as a frequent speaker and essayist on economic issues. Shortly before his retirement in 1978 he was appointed an Officer of the Order of Canada
in recognition of his contributions to national life.
landscape. Now considered a Mies masterwork, the Centre is a lasting testament to Lambert’s vision and imagination. William Thorsell, CEO of the Royal Ontario Museum
, wrote in a tribute to Allen Lambert: "For those who build, it is not a question of whether a legacy remains, but what its quality is. In Athens
, in the Yucatan
, in Paris
, architecture still speaks eloquently centuries after so much else of value is gone. In 1967, a banker insisted that Toronto
be remembered with respect."
Order of Canada
The Order of Canada is a Canadian national order, admission into which is, within the system of orders, decorations, and medals of Canada, the second highest honour for merit...
(1911 – October 25, 2002) was a Canadian
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
banker and former Chairman of the Toronto-Dominion Bank
Toronto-Dominion Bank
The Toronto-Dominion Bank , is the second-largest bank in Canada by market capitalization and based on assets. It is also the sixth largest bank in North America. Commonly known as TD and operating as TD Bank Group, the bank was created in 1955 through the merger of the Bank of Toronto and the...
.
Junior to General Manager
Fresh from high school at the age of fifteen, Allen Lambert joined a Victoria, British ColumbiaVictoria, British Columbia
Victoria is the capital city of British Columbia, Canada and is located on the southern tip of Vancouver Island off Canada's Pacific coast. The city has a population of about 78,000 within the metropolitan area of Greater Victoria, which has a population of 360,063, the 15th most populous Canadian...
branch of the Bank of Toronto
Bank of Toronto
The Bank of Toronto was a Canadian bank, founded on July 8, 1857 by George Gooderham, that merged with The Dominion Bank on February 1, 1955 to form the Toronto-Dominion Bank...
in 1927 as an $8-per-week junior clerk. He was recognized as a promising banker early in his career. His first manager reported that the young Lambert was “doing very well and seems to have a good grasp of his work. This boy has a good future.” Promoted to Accountant in a Vancouver
Vancouver
Vancouver is a coastal seaport city on the mainland of British Columbia, Canada. It is the hub of Greater Vancouver, which, with over 2.3 million residents, is the third most populous metropolitan area in the country,...
branch, he moved on to Brockville and then to the foreign exchange department at the Montreal
Montreal
Montreal is a city in Canada. It is the largest city in the province of Quebec, the second-largest city in Canada and the seventh largest in North America...
main branch. He later observed that “We always tried to read something into every move and it was generally thought that if you were selected to go to Montreal
Montreal
Montreal is a city in Canada. It is the largest city in the province of Quebec, the second-largest city in Canada and the seventh largest in North America...
someone had noticed you." After service as a naval officer in the North Atlantic during World War II
World War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
, Lambert became manager of the Yellowknife
Yellowknife, Northwest Territories
Yellowknife is the capital and largest city of the Northwest Territories , Canada. It is located on the northern shore of Great Slave Lake, approximately south of the Arctic Circle, on the west side of Yellowknife Bay near the outlet of the Yellowknife River...
branch during the gold boom of the late 1940s, and then began a rapid rise through the ranks. He became Assistant General Manager in 1953 and was one of those most intimately involved in the negotiations for the merger of the Bank of Toronto
Bank of Toronto
The Bank of Toronto was a Canadian bank, founded on July 8, 1857 by George Gooderham, that merged with The Dominion Bank on February 1, 1955 to form the Toronto-Dominion Bank...
and the Dominion Bank
The Dominion Bank
The Dominion Bank was a Canadian bank based in Toronto and incorporated in 1869 that merged on February 1, 1955 with the Bank of Toronto to form the Toronto-Dominion Bank. -History:...
in 1955. As General Manager of the new Toronto-Dominion Bank
Toronto-Dominion Bank
The Toronto-Dominion Bank , is the second-largest bank in Canada by market capitalization and based on assets. It is also the sixth largest bank in North America. Commonly known as TD and operating as TD Bank Group, the bank was created in 1955 through the merger of the Bank of Toronto and the...
he managed the delicate business of uniting two corporate cultures and building a style and image for a renewed and ambitious organization.
Chief Executive Officer
Allen Lambert became President of The Toronto-Dominion BankToronto-Dominion Bank
The Toronto-Dominion Bank , is the second-largest bank in Canada by market capitalization and based on assets. It is also the sixth largest bank in North America. Commonly known as TD and operating as TD Bank Group, the bank was created in 1955 through the merger of the Bank of Toronto and the...
(TD) in 1960 and Chairman the following year. The bank was not in the first rank of financial institutions at the time, and he later recalled that “we had all gone through a period of frustration at being smaller than the others, and not being quite able to compete fully.” Over the eighteen years of Lambert’s leadership, TD became Canada’s fastest growing bank and a major presence on the international financial scene. Lambert toured the world seeking business opportunities, opening local offices, and building solid relationships with major clients. He was a tireless promoter of customer service, ensured that the Bank was an innovator in technology, and promoted progressive training and benefit programs for employees. He started TD’s corporate art program and, as a centennial project in 1967, developed one of Canada’s foremost collections of Inuit
Inuit
The Inuit are a group of culturally similar indigenous peoples inhabiting the Arctic regions of Canada , Denmark , Russia and the United States . Inuit means “the people” in the Inuktitut language...
art. He combined a demanding life in business with a remarkable record of public and community service, chairing royal commissions and federal advisory bodies, serving as a member of international organizations, and acting as a frequent speaker and essayist on economic issues. Shortly before his retirement in 1978 he was appointed an Officer of the Order of Canada
Order of Canada
The Order of Canada is a Canadian national order, admission into which is, within the system of orders, decorations, and medals of Canada, the second highest honour for merit...
in recognition of his contributions to national life.
The TD Centre
Allen Lambert’s most visible achievement, and a source of great personal pride, was the construction of the Toronto Dominion Centre. He viewed it as a tangible statement of the Bank’s position in the forefront of industry. After rejecting a number of design proposals, Lambert turned to the great German/American architect Mies van der Rohe to develop a plan for a complex of buildings that would revolutionize the TorontoToronto
Toronto is the provincial capital of Ontario and the largest city in Canada. It is located in Southern Ontario on the northwestern shore of Lake Ontario. A relatively modern city, Toronto's history dates back to the late-18th century, when its land was first purchased by the British monarchy from...
landscape. Now considered a Mies masterwork, the Centre is a lasting testament to Lambert’s vision and imagination. William Thorsell, CEO of the Royal Ontario Museum
Royal Ontario Museum
The Royal Ontario Museum is a museum of world culture and natural history in Toronto, Ontario, Canada. With its main entrance facing Bloor Street in Downtown Toronto, the museum is situated north of Queen's Park and east of Philosopher's Walk in the University of Toronto...
, wrote in a tribute to Allen Lambert: "For those who build, it is not a question of whether a legacy remains, but what its quality is. In Athens
Athens
Athens , is the capital and largest city of Greece. Athens dominates the Attica region and is one of the world's oldest cities, as its recorded history spans around 3,400 years. Classical Athens was a powerful city-state...
, in the Yucatan
Yucatán
Yucatán officially Estado Libre y Soberano de Yucatán is one of the 31 states which, with the Federal District, comprise the 32 Federal Entities of Mexico. It is divided in 106 municipalities and its capital city is Mérida....
, in Paris
Paris
Paris is the capital and largest city in France, situated on the river Seine, in northern France, at the heart of the Île-de-France region...
, architecture still speaks eloquently centuries after so much else of value is gone. In 1967, a banker insisted that Toronto
Toronto
Toronto is the provincial capital of Ontario and the largest city in Canada. It is located in Southern Ontario on the northwestern shore of Lake Ontario. A relatively modern city, Toronto's history dates back to the late-18th century, when its land was first purchased by the British monarchy from...
be remembered with respect."