Toronto-Dominion Bank

paid former

chief executive

Bharat Masrani $3 million last year to advise on its

anti-money-laundering

remediation efforts.

Masrani, who was succeeded by Raymond Chun in February 2025, “continues to receive certain health and other benefits, office and administrative support,” TD said Tuesday in a proxy filing.

Masrani’s total compensation

for the year was $3.6 million.

Chun, meanwhile, received $14.6 million in total compensation. His direct pay was $2.3 million above target, with the board citing his renewed strategy, “intense focus on remediation,” and accountability, among other things, according to the filing.

That’s a sharp increase from the $1.6 million that Masrani was paid for 2024, when he received almost no variable compensation beyond his base salary, after the bank agreed to pay almost $3.1 billion of fines as part of a

settlement with United States authorities

.

Bloomberg.com

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