TD Bank Group, which is mired in a money laundering scandal in the U.S., says chief executive Bharat Masrani will retire next year.
Masrani will retire officially on April 10, 2025, at the bank’s next annual meeting of shareholders after 38 years at the bank and more than a decade as CEO.
“The anti-money laundering challenges we face took place on my watch as CEO and I take full responsibility,” he said in a statement Thursday.
“In the coming months, I will continue to advance and direct the critical remediation program required to meet our obligations and responsibilities and strengthen our risk and control foundation.”…