TD Bank Revamps Anti-Money Laundering Team After $3 Billion Penalty
Toronto, Friday, 2 May 2025.
TD Bank’s new anti-money laundering chief, Jacqueline Sanjuas, reshuffles leadership, parting ways with three vice presidents to streamline operations amidst ongoing regulatory challenges.
Background of the Leadership Changes
In response to a significant $3 billion penalty imposed by U.S. regulators earlier this year, TD Bank Group (TSX: TD) has undertaken strategic changes within its financial crime division. Jacqueline Sanjuas, the newly appointed global chief of anti-money laundering (AML) at TD Bank, initiated these leadership changes to address current regulatory challenges within the financial sector. The decision reflects the bank’s effort to streamline its internal processes and overcome the repercussions of prior regulatory infractions [1][2].
Senior Executives Exit Amid Restructuring
As part of the restructuring, three senior vice presidents are set to exit TD Bank’s financial crime risk management team. Sohana Inderlall, VP of Risk and Business Control Programs, Caitlin Riddolls, VP of Risk Oversight Canadian Banking, and Rick Hamilton, VP of Data and Model Management, are departing to pursue other opportunities. This decision is in line with Sanjuas’ vision to simplify the financial crime risk operating model across Canada [1].
Strategic Vision and Future Appointments
Sanjuas has emphasized the need for enhancing decision-making clarity and redefining team mandates to achieve greater organizational consistency. The restructuring plan also includes the appointment of a leader for TD Bank’s financial crime investigations team, as well as a VP for Business Oversight in Canada. Interim appointments will be held by Georgia Stavridis, a former executive at HSBC Canada, and Stephen Joyce, VP of Financial Crime Risk Management Transformation Delivery and Enablement [1][2].
Navigating Regulatory Challenges
The shifting personnel landscape at TD Bank underscores the urgent need for financial institutions to adapt to evolving regulatory requirements. Sanjuas’ leadership changes are seen as crucial steps in restoring confidence and ensuring compliance with strict AML protocols. These internal changes are aimed at fortifying the bank’s stance against financial crimes, thereby mitigating the risk of future regulatory penalties [1].