TORONTO (Reuters) – TD Bank's global head of anti-money laundering, Herbert Mazariegos, will step down from his position effective immediately, two sources told Reuters on Thursday, as the bank takes corrective action after U.S. regulators fined it for failing to comply.
Mazariegos joined TD in November 2023 from Bank of Montreal, where he served as chief anti-money laundering officer for more than four years. He was appointed as part of TD's drive to revamp its risk and compliance team.
Mazariegos, who was appointed while outgoing CEO Bharath Masrani was in office, will be replaced by Jacqueline Sanguas, head of U.S. financial crimes risk management at TD, one of the sources said.
