Raymond Chun, currently COO, will be appointed Group President and CEO on February 1, accelerating the previously announced transition date of April 10. Upon Chun’s appointment, Bharat Masrani will retire as Group President and CEO and from the Board of Directors. Masrani will remain available to the Bank in an advisory capacity until July 31; during the transition, he will provide continuity on the Bank’s critical Anti-Money Laundering remediation effort.
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