Raymond Chun Takes Helm at TD Bank Group as CEO in Major Leadership Shake-Up

TD Bank Group has finalized a significant leadership transition, with Raymond Chun stepping into the role of President and Chief Executive Officer effective April 10, 2025. The Canadian banking giant previously announced that longtime CEO Bharat Masrani would be retiring after 38 years with the institution and more than a decade leading the organization.

The Path to the Top: Raymond Chun’s Rise Through TD Ranks

Raymond Chun’s ascent to the CEO position represents the culmination of more than three decades within TD’s corporate structure. He began his journey with the bank in 1992, joining the organization’s management training program and steadily climbing through increasingly senior positions. His extensive background spans multiple divisions, including roles as President of TD Direct Investing, President and CEO of TD Insurance, and Group Head of Wealth Management and Insurance. Most recently, before his appointment as Chief Operating Officer, he served as Group Head of Canadian Personal Banking.

Strategic Transition: COO Role as Stepping Stone

The succession plan orchestrated by TD’s Board of Directors positioned Chun as Chief Operating Officer starting November 1, 2024, a move that provided him operational oversight of all TD’s business lines while reporting directly to Masrani. This interim period served as the final bridge between his previous role and the top executive position. The appointment by shareholders at the bank’s April 2025 Annual Meeting confirmed his elevation to the CEO role.

Broader Leadership Changes Across the Organization

Beyond Raymond Chun’s elevation, TD Bank underwent additional senior management transitions. Riaz Ahmed, who held the position of Group Head for Wholesale Banking and served as President and CEO of TD Securities for nearly three decades, retired at the end of January 2025. Following his retirement, Masrani committed to continue supporting the bank as an advisor until October 31, 2025, ensuring a smooth knowledge transfer during the critical transition period.

The leadership changes reflect TD Bank Group’s confidence in its internal talent development and succession planning capabilities, positioning Raymond Chun to guide the organization through its next growth phase.