Raymond Chun has been named group head of TD Wealth Management and Insurance, replacing Leo Salom, who becomes group head of U.S. retail and CEO of TD Bank, the bank announced Thursday.
The moves were part of a broader set of executive changes at TD Bank Group.
Chun had been president of TD Direct Investing and executive vice-president of TD Bank Group since June, replacing Paul Clark, who became CEO of TD Waterhouse. Clark had taken over TD Wealth’s private wealth management and financial planning businesses from Dave Kelly, who left the bank in September.
A spokesperson said that TD was not planning to announce Chun’s replacement at Direct Investing at this time.
Chun was president and CEO of TD Insurance from 2019 to 2021. Chun, who has been with the bank since 1995, has held roles in personal banking products, branch banking, TD Waterhouse private client group, TD direct channels sales and customer experience and operations.
Salom had been head of TD wealth management and insurance since 2017, and was executive vice-president of wealth management from 2013 to 2017. He joined TD in 2011 as executive vice-president of advice businesses at TD Wealth.
As head of TD’s wealth management business, Salom grew total assets under management and administration to $1 trillion across Canadian and U.S. wealth platforms, the bank said in the release.
Among the broader executive changes at TD, Teri Currie, group head of Canadian personal banking, will retire at the end of January after almost 35 years with the bank. She will join the board of directors of TD’s U.S. bank on Feb. 1., 2022.
Michael Rhodes, group head for innovation, technology and shared services, will become group head, Canadian personal banking, and Greg Braca, group head of U.S. retail, will become vice-chair of TD Bank in the U.S., reporting to TD Bank Group CEO Bharat Masrani.