Masrani, who's been at the helm of the Toronto-based bank for a decade, will pass the torch to Raymond Chun next spring. Chun currently serves as TD's head of Canadian personal banking.

Toronto-Dominion Bank has picked a new leader from within its ranks to take over after the retirement next year of Chief Executive Bharat Masrani, a succession that has been hastened by the bank’s struggles to resolve failings in its anti-money-laundering controls and settle investigations by U.

Key Takeaways TD Bank Group shares rose Thursday amid news that CEO Bharat Masrani is planning to retire next spring after a decade in the top role at the Canadian firm.Raymond Chun, who currently leads the bank's Canadian personal banking operations,

TD Bank Group, which is mired in a money laundering scandal in the U.S., says that Raymond Chun will replace chief executive Bharat Masrani who is retiring next year. (Sept. 19, 2024)