The Toronto-Dominion Bank

TSX:TD Stock Report

Market Cap: CA$234.8b

Toronto-Dominion Bank Management

Management criteria checks 0/4

Toronto-Dominion Bank's CEO is Ray Chun, appointed in Feb 2025, has a tenure of 1.17 years. total yearly compensation is CA$14.57M, comprised of 7.9% salary and 92.1% bonuses, including company stock and options. directly owns 0.001% of the company’s shares, worth CA$2.61M. The average tenure of the management team and the board of directors is 1.8 years and 2.7 years respectively.

Key information

Ray Chun

Chief executive officer

CA$14.6m

Total compensation

CEO salary percentage7.90%
CEO tenure1.2yrs
CEO ownership0.001%
Management average tenure1.8yrs
Board average tenure2.7yrs

Recent management updates

Recent updates

The "Anti-Fragile" Giant: Is the Regulatory Discount Finally Fading

As of February 2026, the story for Toronto-Dominion Bank (TD) is one of redemption and recovery. After a 2024 and 2025 defined by regulatory scrutiny over its anti-money laundering (AML) protocols and the collapsed First Horizon merger, TD has spent the last year aggressively "cleaning house." The bank has successfully overhauled its compliance infrastructure and re-established its "Retail King" status in Canada.
User avatar

Expanding Fee-Based Services And Digital Innovations Will Drive Revenue Growth And Boost Earnings

Strategic reviews, digital investments, and fee-based business expansions aim to enhance TD Bank's competitive position, revenue, and long-term earnings.

CEO Compensation Analysis

How has Ray Chun's remuneration changed compared to Toronto-Dominion Bank's earnings?
DateTotal CompensationSalaryCompany Earnings
Jan 31 2026n/an/a

CA$21b

Oct 31 2025CA$15mCA$1m

CA$20b

Jul 31 2025n/an/a

CA$20b

Apr 30 2025n/an/a

CA$17b

Jan 31 2025n/an/a

CA$8b

Oct 31 2024CA$4mCA$738k

CA$8b

Jul 31 2024n/an/a

CA$8b

Apr 30 2024n/an/a

CA$11b

Jan 31 2024n/an/a

CA$11b

Oct 31 2023CA$4mCA$600k

CA$10b

Compensation vs Market: Ray's total compensation ($USD10.58M) is above average for companies of similar size in the Canadian market ($USD7.40M).

Compensation vs Earnings: Ray's compensation has increased by more than 20% in the past year.

CEO

Ray Chun (55 yo)

1.2yrs
Tenure
CA$14,573,860
Compensation

Mr. Raymond Chun, also known as Ray, is Director of The Toronto-Dominion Bank from November 1, 2024 and also served as its Chief Operating Officer November 1, 2024 to February 1, 2025. He serves as Group P...

Leadership Team

NamePositionTenureCompensationOwnership
Raymond Chun
Group President1.2yrsCA$14.57m0.0011%
CA$ 2.6m
Kelvin Vi Tran
Group Head & CFO4.6yrsCA$5.97m0.0016%
CA$ 3.8m
Ajai Bambawale
Group Head & Chief Risk Officer8.2yrsCA$7.85m0.000060%
CA$ 140.9k
Leovigildo Salom
Group Head of U.S. Banking and President & CEO of TD Bank U.S.8.4yrsCA$14.77m0%
CA$ 0
Tim Wiggan
Group Head of Wholesale Banking2.3yrsCA$11.17m0.0060%
CA$ 14.1m
Taylan Turan
Group Head & COOless than a yearno datano data
Vladimir Shpilsky
Senior Executive Vice President of Global Technology & Solutions1.3yrsno datano data
Brooke Hales
Head of Investor Relationsno datano datano data
Erin Morrow
Chief Compliance Officer1.8yrsno datano data
Simon Fish
Senior EVP & General Counselless than a yearno datano data
Renu Gupta
Senior Vice President of Corporate Developmentno datano datano data
Melanie Burns
Senior Executive VP & Chief Human Resources Officer1.9yrsno data0.00089%
CA$ 2.1m
1.8yrs
Average Tenure

Experienced Management: TD's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.

Board Members

NamePositionTenureCompensationOwnership
Raymond Chun
Group President1.4yrsCA$14.57m0.0011%
CA$ 2.6m
Mary Winston
Independent Director3.7yrsCA$993.48k0.000010%
CA$ 23.5k
S. Rowe
Independent Director6yrsCA$330.38k0.0011%
CA$ 2.7m
Ajay Virmani
Independent Director3.7yrsCA$285.75k0.0022%
CA$ 5.1m
Keith Martell
Independent Director2.7yrsCA$389.38k0.00044%
CA$ 1.0m
John MacIntyre
Independent Chairman2.7yrsCA$698.09k0.0050%
CA$ 11.7m
Paul Wirth
Independent Director1yrCA$640.57k0.000030%
CA$ 70.4k
Nancy Tower
Independent Director3.8yrsCA$405.13k0.000070%
CA$ 164.3k
Elio Luongo
Independent Director1yrCA$314.58k0.0019%
CA$ 4.4m
Ana Arsov
Independent Director1yrCA$435.35k0.00049%
CA$ 1.2m
Cherie Brant
Independent Director4.7yrsCA$317.50k0.000090%
CA$ 211.3k
Ayman Antoun
Independent Director2yrsCA$791.92k0.00012%
CA$ 281.7k
2.7yrs
Average Tenure
63yo
Average Age

Experienced Board: TD's board of directors are not considered experienced ( 2.7 years average tenure), which suggests a new board.

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/04/14 10:25
End of Day Share Price 2026/04/14 00:00
Earnings2026/01/31
Annual Earnings2025/10/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

The Toronto-Dominion Bank is covered by 23 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Mark RosenAccountability Research Corporation
Lemar PersaudATB Cormark Historical (Cormark Securities)
John AikenBarclays