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Clark is credited with turning the TD bank into a North American powerhouse in retail banking while avoiding the problems which hurt other banks in the 2008 financial crisis. On April 3, 2013, Clark announced his intention to retire as president and CEO effective November 1, 2014 at age 67, after 12 years as CEO. [ 6 ]
A former TD Bank employee based in Florida was arrested and charged with facilitating money laundering to Colombia, New Jersey's attorney general said on Wednesday, in the first such arrest since ...
TD Bank stock has since pared its gains to about 6%, trading at $59.88 at 1:29 p.m. in New York. TD did not immediately respond to a request for comment. Read the original article on Business Insider
TD Bank will pay $3 billion to settle charges that it failed to properly monitor money laundering by drug cartels, a source with knowledge of the settlement told CNN.
In July 2013, Masrani was named chief operating officer and CEO-designate of TD, and became president and CEO of TD on November 1, 2014 upon Clark's retirement. [ 2 ] In 2018, Masrani was the highest-paid Big 5 bank CEO with $15.3 million in total compensation. [ 15 ]
TD Bank, N.A. is an American national bank and the United States subsidiary of the Canadian multinational TD Bank Group.It operates primarily across the East Coast, in 15 U.S. states and Washington, D.C. TD Bank is the seventh-largest U.S. bank by deposits and the 10th largest bank in the United States by total assets, resulting from a series of several mergers and acquisitions.
A former Florida-based TD Bank employee was arrested for his alleged role in a massive money-laundering scheme by drug cartels for which the US government previously fined the bank $3 billion.
In his last year as CEO, the bank posted its first quarterly loss in fifteen years, largely attributed to lending activity in the telecommunications and cable television sectors that Baillie had pushed for in the late 1990's. [6] Baillie was succeeded by W. Edmund Clark as CEO in 2002 and stepped down from his role as chairman in 2004. [1]