The Globe and Mail reports in its Friday edition that TD Bank has named Andy Bregenzer and Jill Gateman as co-heads of its U.S. commercial banking business, replacing Chris Giamo, who retired earlier this year. A Reuters dispatch to The Globe says the appointments come as TD shakes up its top management in preparation for expected U.S. fines stemming from regulatory scrutiny of its anti-money-laundering protocols. Last week, TD announced chief executive Bharat Masrani will retire and hand over the top job to Ray Chun, the head of its Canadian banking unit. The bank reported its first loss in decades in August after earmarking $2.6-billion (U.S.) to cover the potential penalties. The U.S. regulatory probes relate to allegations that Chinese drug traffickers used the bank to launder at least $650-million (U.S.) from 2016 through 2021, and an employee took a bribe to facilitate laundering of drug money. Mr. Bregenzer will focus on the regional commercial banks, including small businesses, in the U.S.; Ms. Gateman will lead TD's national commercial banking effort in the country and continue to partner with TD Securities and TD Cowen to deliver advisory and investment banking services to its commercial banking clients.