Daily News: September 29, 2017

TD Bank Names Bambawale Chief Risk Officer

TD Bank Group appointed Ajai Bambawale to replace retiring Mark Chauvin as chief risk officer.

Chauvin announced his intention to retire as CRO effective January 31, 2018, after more than 37 years with the bank.

Bambawale currently serves as head and chief risk officer of TD Bank, Americas. He will become TD Bank Group’s chief risk officer effective February 1, 2018, reporting to CEO Bharat Masrani.

Chauvin will remain with the bank until March 1, 2018 to support this transition.

“I want to thank Mark for his significant contributions to TD over the course of his very distinguished career. We’ve benefited greatly from Mark’s trusted advice, his strategic insight and comprehensive understanding of the evolving risk management landscape, and wish him all the best in his retirement,” Masrani said. “Ajai has been a key member of Mark’s team and I am confident that his global experience and thorough understanding of risk and our business will serve him well in this new role.”

Bambawale joined TD in April 1993 as a Commercial Banking management trainee and quickly distinguished himself by taking on increasingly senior roles across the Commercial Bank and Corporate Credit. He has had a variety of international experiences having worked in India where he was responsible for TD’s branch office. Upon Bambawale’s return to Canada he rejoined TD Securities’ Credit Risk Group and shortly afterwards became chief operating officer, TD Securities. Prior to taking on his current role, he was vice chair and regional head, Europe & Asia Pacific for TD Securities in London.