The Globe and Mail reports in its Tuesday edition that TD Bank's head of Canadian personal banking is leaving to lead a U.S.-based digital banking and payments provider. The Globe's Stefanie Marotta writes that Michael Rhodes is departing to take on the role of chief executive officer at Illinois-based Discover Financial Services, one of the largest credit-card issuers in the country. TD is tapping head of wealth Raymond Chun as Mr. Rhodes's successor and promoting capital markets executive Tim Wiggan to lead the wealth business. Earlier this year, Discover Financial launched an internal review of its risk management and corporate governance after regulators found issues with its compliance practices, including in its credit cards and student-loan servicing businesses. Former chief executive officer Roger Hochschild resigned in August and the board installed one of its own directors as interim CEO. TD is also in the midst of its own regulatory issues. The bank expects monetary and non-monetary penalties from U.S. regulatory and legal enforcement agencies, including the U.S. Department of Justice, that are investigating the lender's anti-money-laundering practices. TD's Bharat Masrani is coming up on 10 years as CEO.