TD Bank announces CEO shuffle as Masrani set to retire in 2025 - National

TD Bank CEO Bharat Masrani will retire next year and hand over the job to the head of its Canadian banking unit Ray Chun, as Canada’s second-biggest lender braces for expected U.S. fines for weakness in its anti-money laundering protocols. Masrani, who became CEO in 2014, is set to step down in April, Toronto-based TD said. TD also said Riaz Ahmed, the head of its capital markets unit TD Securities, will retire in January. Masrani has focused on the bank’s U.S. unit as it sought growth opportunities outside of Canada,...