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Toronto Dominion Bank in Ottawa on Sept. 7, 2022.Sean Kilpatrick/The Canadian Press

Toronto-Dominion Bank TD-T has appointed two top executives to the upper levels of its senior ranks.

Barbara Hooper will take on the title of group head of Canadian business banking, effective May 1. Senior executive vice-president and chief financial officer Kelvin Tran also becomes a group head of his recently expanded division.

Ms. Hooper was promoted less than two months after moving into the role of senior executive vice-president and chief operating officer of Canadian business banking, following Paul Douglas’s retirement.

Even as companies across Canada increasingly commit to diversity and inclusion initiatives, they still lag in developing and promoting female employees into the most senior ranks. More than half of bank employees are women, but women make up just 33 per cent of senior executive teams, according to a report by DBRS Morningstar released Wednesday.

Since joining TD nearly 30 years ago, Ms. Hooper has worked in teams across the bank, including capital markets and investment banking, fixed income and corporate development. Most recently, she was the bank’s treasurer, where she had a hand in overseeing TD’s acquisitions.

“Barbara is an exceptional leader who has played a key role in strengthening our businesses, advancing our strategic growth plans, and leading key global functions,” TD chief executive officer Bharat Masrani said in a statement. “Her strong knowledge of market opportunities and the competitive operating environment will help drive the next phase of growth for both the Canadian business bank and our customers.”

At the time of Ms. Hooper’s appointment to head of Canadian business banking, TD is reorganizing the treasury and enterprise strategy units under two other senior executives. CFO Mr. Tran’s mandate expanded to include managing treasury, corporate development, and strategy and funding.

With Mr. Tran’s expanded role, TD has raised his position to the level of group head, which is the most senior rank at a bank after CEO. Before he became CFO in 2021, Mr. Tran worked at the bank for 20 years in roles including CFO of the lender’s U.S. arm.

“He is an inspiring and inclusive leader who will help the bank deliver for our stakeholders and drive profitable growth,” Mr. Masrani said.