TD Bank CEO Bharat Masrani Steps Down from Leadership Position

Bharat Masrani has stepped down as CEO of TD Bank, a move that will take effect on November 1, 2023.

TD Bank has not yet announced who will take over as CEO, but it's expected to be a key decision for the bank's future.

Masrani has been with TD Bank for over 40 years, starting as a young professional in 1983.

TD Bank Group President and CEO Bharat Masrani has announced his intention to retire on April 10, 2025, after 38 years at the bank and more than a decade as CEO.

Bharat Masrani has been the CEO for over a decade and has been with the bank for 38 years. He will continue to serve as an advisor to the bank until Oct. 31, 2025.

Raymond Chun, group head, Canadian Personal Banking, will be appointed to the Board of Directors and become CEO, TD Bank Group, reporting to Masrani, effective Nov. 1, 2024.

Chun has been with TD since 1992 and has assumed increasingly senior roles over the past 32 years. He will become Group President and CEO, TD Bank Group, on April 10, 2025.

Riaz Ahmed, group head, wholesale banking and president and CEO of TD Securities, will retire at the end of January after close to three decades at the bank.

TD Bank Group also announced three changes to the senior executive team, effective Nov. 1, 2024.