TD Bank Group has announced Bob Dorrance’s plans to retire retire as chief executive of TD Securities in September, a move that will prompt several other executive changes.
TD said Dorrance will retire effective Sept. 1, but remain chairman of TD Securities and serve as a special adviser to TD CEO Bharat Masrani.
Dorrance has been head of TD Securities since 2005, leading the division through the 2008-09 financial crisis as well as the recent turmoil caused by the pandemic.
He will be replaced by Riaz Ahmed, TD’s chief financial officer, who will become group head for wholesale banking and CEO of TD Securities.
Replacing Ahmed as chief financial officer, TD said will be Kelvin Tran, who is its executive vice-president, enterprise finance.
The bank also said Barbara Hooper, executive vice-president, treasury, corporate development and strategic sourcing, will join the bank’s senior executive team, reporting to Masrani.