TD Bank Group announced that Chief Executive Officer Bharat Masrani will retire on April 10, 2025, after an impressive 38-year tenure at the bank, with more than a decade as CEO. Under his leadership, TD has navigated significant changes within the banking industry, focusing on digital transformation and enhancing competitiveness. The Board of Directors has designated Raymond Chun, currently Group Head of Canadian Personal Banking, as Masrani's successor. Chun will take over as Chief Operating Officer on November 1, 2024, and he will formally become Group President and CEO at the bank's Annual Meeting of Shareholders in April 2025.
Chun's career at TD began in 1992, where he has held various leadership positions, including President of TD Direct Investing and TD Insurance. He is recognized for his ability to foster high-performing teams and deliver exceptional customer experiences. Masrani expressed confidence in Chun's leadership, emphasizing his deep knowledge of the banking industry and commitment to TD’s mission. As part of a broader executive transition, several senior leadership changes will take effect alongside Chun's appointment, reinforcing TD Bank Group's strategic vision as it continues to serve over 27.5 million customers across North America.
