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Financial Post | TD Bank CEO takes pay cut over anti-money-laundering probe

In the below article from the Financial Post, Toronto-Dominion Bank chief executive Bharat Masrani took a pay cut last year over the lender’s scuttled acquisition of First Horizon Corp. and the United States probe it faces over anti-money-laundering controls.

He received total compensation of $13.4 million last year, down from $15.1 million in 2022.

Toronto-Dominion was poised to expand its U.S. footprint with a $13.4-billion deal to buy Memphis-based First Horizon, but scrapped the transaction in May 2023. The timing of closing had been thrown into doubt as it faced inquiries from U.S. regulators and law enforcement into its handling of suspicious customer transactions.....

TD CEO Bharat Masrani takes pay cut over anti-money-laundering probe | Financial Post



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