TD Bank Appoints Georgia Stavridis to Strengthen Financial Crimes Oversight

TD Bank has appointed Georgia Stavridis as vice president of financial crimes risk management, a newly created role aimed at bolstering the institution’s compliance measures, according to three sources familiar with the matter. Stavridis, who previously served as HSBC Bank Canada’s chief compliance officer in 2020, joined Royal Bank of Canada (RBC) earlier this year after its $10 billion acquisition of HSBC’s Canadian operations.

In her new position, Stavridis will oversee strategy, performance, and results for TD’s Canadian financial intelligence unit, reflecting the bank’s commitment to enhancing its compliance and risk management programs.

This appointment follows TD Bank’s recent legal challenges. In October, TD became the largest U.S. bank in history to plead guilty to violating anti-money laundering laws, resulting in over $3 billion in penalties. As part of its remedial measures, TD has aggressively recruited top talent for its compliance and risk teams. These include Herb Mazariegos, previously with BMO, as its chief global anti-money-laundering officer, and several former officials from the FBI, U.S. Department of Homeland Security, and Citi.

Stavridis’ prior experience will be critical in navigating TD’s ongoing compliance transformation. HSBC Bank Canada, where she was previously chief compliance officer, faced its own regulatory challenges in 2013 when its parent company, HSBC Holdings Plc, paid $1.92 billion in fines for breaching anti-money-laundering and sanctions regulations in the U.S.

RBC has seen multiple departures from HSBC executives following the expiration of a six-month retention guarantee post-acquisition. This trend reflects a broader reshuffling of talent in the Canadian banking sector as institutions focus on strengthening regulatory compliance and financial crime prevention.