TD's Masrani Retiring, New CEO Named

Longtime CEO to Step Down After 35 Years

After 35 years at the helm of TD Bank Group, CEO Bharat Masrani is retiring. The bank announced today that Liam McGee, currently the bank's President and Chief Operating Officer, will take over as CEO effective March 1, 2023.

Masrani's Legacy

Masrani has been a transformative leader for TD, overseeing its growth from a regional bank to one of the largest banks in North America. Under his leadership, TD has expanded its operations into the United States and Mexico, and has become a leader in digital banking and innovation. Masrani is also credited with creating a strong corporate culture at TD, which has been recognized as one of the best places to work in Canada for many years.

McGee's Vision

Liam McGee has been with TD for 25 years and has held a variety of senior leadership positions. He has been President and Chief Operating Officer since 2019. McGee is a strong advocate for digital banking and has a deep understanding of the Canadian and U.S. banking markets. He is also passionate about sustainability and social responsibility.

A Smooth Transition

The transition to McGee's leadership is expected to be smooth. Masrani will remain as a senior advisor to the bank for a period of time to ensure a seamless handover. McGee has a strong team in place and is well-positioned to lead TD into the future.

Conclusion

Bharat Masrani's retirement marks the end of an era at TD Bank Group. He has been a visionary leader who has transformed TD into one of the leading banks in North America. Liam McGee is a talented and experienced leader who is well-positioned to lead TD into the future. The bank is in good hands and is well-positioned for continued success in the years to come.