TD Bank Overhauls AML Team Leadership as New Chief Jacqueline Sanjuas Implements Structural Changes

Three vice presidents within TD Bank’s financial crime risk management unit are set to depart amid a broader leadership shake-up being implemented by new global AML chief Jacqueline Sanjuas, according to an internal memo shared with staff.

Sanjuas, who took the helm earlier this year following TD’s record $3 billion penalty imposed by U.S. regulators, is initiating structural reforms aimed at improving the way the bank manages financial crime risks in Canada.

In the memo sent Thursday, Sanjuas stated, “This effort is guided by the need to enhance clarity in decision-making, redefine team mandates, and drive greater consistency across the broader team.”

The three executives exiting the bank are: Sohana Inderlall, Vice President of Risk and Business Control Programs; Caitlin Riddolls, Vice President of Risk Oversight for Canadian Banking; and Rick Hamilton, Vice President of Data and Model Management. According to the memo, all three are “pursuing other opportunities.”

The departures come as part of Sanjuas’ first major restructuring move since assuming leadership of the anti-money laundering division in January, following the abrupt departure of former chief Herbert Mazariegos.

Sanjuas explained that her priority is “simplifying the financial crime risk operating model in Canada,” suggesting that more shifts could be in store for TD’s compliance infrastructure.

The memo also revealed plans to appoint a new head for the bank’s financial crime investigations unit and a new Vice President for Business Oversight, Canada. In the meantime, those roles will be temporarily filled by Georgia Stavridis and Stephen Joyce.

Stavridis, a former HSBC Canada executive who joined TD in 2023, and Joyce, the current Vice President of Financial Crime Risk Management Transformation Delivery and Enablement, will assume the interim responsibilities.

A TD Bank spokesperson confirmed both the changes and the contents of Sanjuas’ internal communication. 

By fLEXI tEAM