TD Names New Chief Compliance Officer Amid Laundering Probes

Toronto-Dominion Bank has tapped Erin Morrow as its new chief compliance officer, a key role as the bank faces ongoing US investigations into its anti-money laundering controls.

Morrow, who was most recently deputy chief compliance officer, replaces Monica Kowal, who left July 2, according to an internal company memo reviewed by Bloomberg News. A senior vice president, Morrow reports to Ajai Bambawale, chief risk officer at Canada’s second-largest lender.

“She has extensive experience working in complex organizations with a global footprint, which will serve her well in this role,” Bambawale said in the memo, which was sent June 28, ...