TD Bank’s global anti-money laundering chief is stepping down, sources tell Reuters

TORONTO (Reuters) – TD Bank’s Chief Financial Officer Herbert Mazariegos is stepping down effective immediately, two sources told Reuters on Thursday, as the bank takes corrective steps after fined by US authorities for compliance errors.

Mazariegos joined TD in November 2023 from the Bank of Montreal, where he served as chief financial fraud officer for more than four years. He was hired as part of TD’s drive to revamp its risk and compliance team.

Mazariegos, who was hired while CEO Bharat Masrani, will be replaced by Jacqueline Sanjuas, head of US financial crime risk management at TD, another source said.