TD CEO to Retire Next Year, Takes Responsibility for Money Laundering Failures

President and chief executive officer of the Toronto-Dominion Bank Bharat Masrani speaks at its AGM in Toronto on March 29, 2018. The Canadian Press/Chris Young

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.