TD Bank Group announced on Thursday that Bharat Masrani, its President and Chief Executive Officer, will retire on April 10, 2025, following a distinguished 38-year tenure at the bank, including more than ten years as CEO.
As part of its succession plan, the TD Bank Group Board of Directors has named Raymond Chun, currently Group Head of Canadian Personal Banking, to the Board and appointed him Chief Operating Officer, effective November 1, 2024. In this new role, Chun will oversee all of TD’s business lines and report directly to Masrani.
The Board further disclosed its plan for Chun to ascend to the position of Group President and Chief Executive Officer on April 10, 2025, during the next Annual Meeting of Shareholders.
Post-retirement, Masrani will continue to serve TD Bank Group as an advisor until October 31, 2025.
Chun's career at TD Bank began in 1992 through the management training program, and he has since held numerous senior positions over 32 years. His leadership roles include President of TD Direct Investing, President and CEO of TD Insurance, Group Head of Wealth Management and Insurance, and most recently, Group Head of Canadian Personal Banking.
Additionally, Riaz Ahmed, Group Head of Wholesale Banking and President and CEO of TD Securities, will retire at the end of January 2025, marking nearly three decades with TD Bank Group.
