TD Bank Canada announces head change

Written by Giselle Racette, CNN Andrew Franc, who has been head of TD Bank’s Canadian personal and commercial banking since September 2013, is stepping down, the bank said Wednesday. After 42 years at TD…

TD Bank Canada announces head change

Written by Giselle Racette, CNN

Andrew Franc, who has been head of TD Bank’s Canadian personal and commercial banking since September 2013, is stepping down, the bank said Wednesday.

After 42 years at TD Canada, Franc has worked in several roles, including serving as head of the company’s insurance, investment and wealth management businesses. In 2015, he was appointed as president of TD Bank North America.

His departure comes amid restructuring at TD Bank. The bank announced earlier this year that it would consolidate its online and mobile platforms to create what it called a “digital duopoly.”

Kevin Stadnyk will replace Franc as chief executive of TD Bank Canada. Stadnyk, who was formerly head of TD Bank’s American business, will serve as TD Bank Canada’s president.

“Andrew has provided his colleagues and customers with a steady hand, driving TD Canada’s success over the last five years through a combination of impressive and effective risk management and leadership,” said Ed Clark, TD Bank’s chief executive.

“I’d like to thank him for all he has done during his tenure, and for providing an incredibly capable successor in Kevin Stadnyk, a champion of our customers and our communities, to succeed him.”

Franc earned an MBA at Rotman School of Management, also located in Toronto. He and his wife, Gisele, have three children.

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