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Business Brief: At TD, a new CEO faces a tall order

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Also in today’s edition: How Canada’s middle class got shafted

Remember Monday morning? That was before we knew Ottawa would reveal the most significant relaxation of the country’s mortgage rules in more than a decade; that Rogers had reached a deal to buy BCE Inc.’s share of Maple Leaf Sports & Entertainment; that the U.S. Federal Reserve would decide on a deeper cut to its key lending rate; and that yesterday, Toronto-Dominion Bank would announce it has anointed a relatively unknown insider as its new chief executive.for bankruptcy protection.

It’s worth reiterating the risks posed by regulators who might limit the bank’s ability to grow in the U.S. – a key part of the bank’s strategy for years. As group head of Canada’s personal banking division, he oversaw almost 21,000 employees in more than 1,000 branches across the country, according to the bank’s website.

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