The Globe and Mail reports in its Friday edition that Raymond Chun's rise through the ranks of TD Bank has been so rapid that many Bay Street watchers might have missed his ascent. The Globe's Jameson Berkow writes that it has been barely three years since Mr. Chun first joined TD's top executive group in 2021, when he became head of wealth and insurance. He was made head of Canadian personal banking two years later in December, 2023, and was in that job for less than a year before chief executive officer Bharat Masrani named Mr. Chun as his successor Thursday. Bay Street had been expecting Mr. Masrani to step aside for months in response to anti-money-laundering failures that the lender expects will result in more than $3-billion (U.S.) in fines from U.S. regulators. Few were expecting Mr. Chun -- who is known for his direct, no-nonsense management style -- to take his place. Scotiabank analyst Meny Grauman said in a note, "Mr. Chun is a seasoned executive, and not directly tied to any of TD's issues in the U.S., but he does have a relatively low profile on the Street, and is certainly not the 'outsider' candidate that most investors had expected." Mr. Chun was born in South Korea and moved to Canada when he was four.