By Nivedita Balu and Manya Saini (Reuters) -TD Bank CEO Bharat Masrani will retire next year and hand over the job to the head of its Canadian banking unit Ray Chun, as Canada's second-biggest lender braces for expected U.

TORONTO - TD Bank Group, which is mired in a money laundering scandal in the U.S., said Raymond Chun will replace chief executive Bharat Masrani who is retiring next year. Chun, who stepped into the role of head of Canadian personal banking last December,