TD boosts risk, compliance leadership while National Bank targets US growth with new hires
Two of Canada’s big banks made key executive moves this week, signaling strategic shifts in risk management and investment banking as they respond to regulatory pressure and expand into high-demand sectors.
At TD Bank, Andrew Jensen (pictured left) has been named head of financial crime risk management for Canada, replacing interim lead Stephen Joyce.
Jensen, who joined TD in 2024 as global head of sanctions, will now oversee both Canadian financial crime risk and global sanctions operations. His promotion was confirmed in an internal memo from global anti-money laundering chief Jacqueline Sanjuas.
The move comes as TD Bank continues to implement a sweeping anti-money laundering remediation program, following a US-imposed $3 billion penalty tied to weaknesses in its risk and compliance systems.
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Jensen brings deep regulatory experience, having previously worked at the US Department of Treasury and held senior sanctions roles at Citi and Scotiabank. His new role takes effect July 14.
Meanwhile, National Bank of Canada announced the hiring of two senior investment bankers to lead its expansion into US energy and infrastructure markets. Seth Keller (pictured centre) has been appointed global head of power, utilities, and infrastructure, while Konrad Stefanek (pictured right) joins as head of US power and utilities. Both are based in New York and started this week.
“We have been a leading provider of loan capital in project financing for power developers across North America for over the last five years, and the addition of Seth and Konrad will enhance our ability to provide broader advisory services to our clients,” said Alexandre Guay, a spokesperson for the bank.
Keller and Stefanek previously worked together on the power and utilities team at Scotiabank, with Keller having served as managing director for 15 years and Stefanek for over five years. Their appointments align with National Bank’s strategy to grow its investment banking operations outside Canada, especially in infrastructure, an area where demand for capital remains robust despite ongoing market volatility.
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