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NEWS: Raymond Chun takes over as TD Bank CEO, firm trying to recover from money laundering scandal

TD Bank Group CEO Raymond Chun

By Nivedita Balu

A LONGTIME TD Bank executive took over as the Canadian lender’s CEO on Saturday, tasked with steering it through an anti-money laundering remediation program after it paid a historic fine to U.S. regulators.

Raymond Chun, 55, has spent over 30 years at Canada’s second-largest bank, running TD’s wealth, insurance and Canadian personal banking business. As CEO he will be in charge of cleaning up the bank’s U.S. retail banking business, including the potential sale of certain assets.

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