TD named Jacqueline Sanjuas its next global head of financial crime risk management, effective Thursday.
Sanjuas replaces Herb Mazariegos, who had led the bank’s financial crime risk management arm since November 2023. Mazariegos will leave the bank but will “support a smooth transition,” according to an announcement.
A TD spokesperson did not respond to a request for comment with further details. A person with knowledge of the situation told Bloomberg that Mazariegos’ departure was a “talent decision” for TD, and that the bank’s needs have changed since he joined in 2023.
On top of her new role, Sanjuas will also continue to serve as TD’s U.S. Bank Secrecy Act officer, a role she’s held since joining TD a year ago.
She previously spent nearly two decades at Citi, most recently as managing director and chief compliance officer of AML and BSA, according to her LinkedIn.
Since joining TD, she has “driven critical change and enhancements” to TD’s U.S. AML, the bank said in its announcement.
She joined in January 2024, a few months before the Justice Department’s investigation of TD into money laundering incidents tied to the illicit fentanyl trade became public knowledge.
The DOJ investigation was resolved when TD pleaded guilty to violating the Bank Secrecy Act and conspiring to commit money laundering, which landed them more than $3 billion in penalties and an asset cap on U.S. retail operations.
The bank’s AML woes are also to blame for a recent compensation cut for 41 executives, which the bank said reflect “the seriousness of the U.S. AML failures, the associated costs to the Bank, and the limitations imposed on the U.S. retail business.”
TD’s next CEO, Raymond Chun, takes the helm of the bank on Feb. 1, two months before initially planned.
Stephen Joyce took the roll of interim head of financial crime risk management for TD’s Canadian and international operations Thursday, as well. He will report to Sanjuas.
