The Toronto-Dominion Bank (NYSE:TD) announced today that its President and Chief Executive Officer, Bharat Masrani, intends to retire on April 10, 2025.
Raymond Chun, the current Group Head of Canadian Personal Banking, will succeed Masrani and assume the role of Chief Operating Officer effective November 1, 2024.
"Bharat helped to build TD over almost four decades," said Alan MacGibbon, Chair of the TD Bank Group Board of Directors.
"The Board extends its deep appreciation for Bharat’s significant contributions to TD."
Raymond Chun, who has been with TD since 1992, expressed his commitment to leading the bank's future efforts.
As part of a broader leadership transition, TD also announced that Riaz Ahmed, Group Head of Wholesale Banking and President and CEO of TD Securities, will retire at the end of January 2025.