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Canada's TD Bank says Bob Dorrance to retire as CEO of securities arm

·1 min read

June 24 (Reuters) - TD Bank Group said on Thursday Bob Dorrance will retire as chief executive officer and president of its securities arm on Sept. 1, but will stay on as chairman of the unit and special advisor to the group's top boss.

Chief Financial Officer Riaz Ahmed will succeed Dorrance, the bank said, with Kelvin Tran appointed as the new finance boss after spending more than two decades at the bank. Ahmed will also take over as group head of wholesale banking.

Dorrance has headed TD Securities since 2005, steering the unit through the global financial crisis, and more recently, through a time of pandemic-triggered global disruption, TD Bank said.

A member of the bank's senior executive team since 2009, Ahmed has helped shape TD's entry and growth in the U.S. market, overseeing the acquisition of several banks and asset portfolios. He took over as CFO in 2016. (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Devika Syamnath)