TD Bank Financial Group today announced a series of senior executive moves affecting the bank’s five major lines of business.

The bank is also modifying its approach to titling. Group head now becomes the most senior executive title in each of the bank’s businesses and vice chairman will be the most senior executive title for corporate functions.

The group head appointments reporting to Ed Clark, president and CEO, are effective November 1.

Bob Dorrance is group head wholesale banking, and chairman and CEO, TD Securities. Dorrance will continue to lead the 2holesale business, TD Securities and private equity and retain his vice chairman, TD Bank title.

Bernie Dorval is group head business banking and insurance and co-chairman TD Canada Trust. Dorval will continue to lead commercial banking, small business banking, TD Insurance, and TD Meloche Monnex.

Bill Hatanaka is group head wealth management and chairman and CEO, TD Waterhouse. Hatanaka will continue to lead the bank’s integrated wealth management business — TD Waterhouse, domestically and in the UK and TD Mutual Funds.

Tim Hockey is group head personal banking and co-chairman TD Canada Trust. Hockey will continue to provide leadership to TD Canada Trust’s retail distribution, ebank, and product service and support businesses.

Bill Ryan is group head U.S. personal and commercial banking and chairman, CEO and president, TD Banknorth. He will continue to be a member of the board of directors of TD Bank and retain his vice chairman, TD Bank title. Ryan will continue to report to Ed Clark and the board of directors of TD Banknorth.

In addition, the bank says it will rely on the expertise of Joe Moglia, as CEO of TD Ameritrade, for its U.S. online brokerage business upon completion of the transaction. Moglia will report to the board of directors of TD Ameritrade.

Several changes in corporate roles are also effective November 1.

Colleen Johnston will become CFO and executive vp. Johnston will lead all finance functions across the organization, as well as taxation and investor relations.

Dan Marinangeli will be taking on the role of executive vp, corporate development, replacing David Livingston, who is taking on a position in the public service. Marinangeli will be one of the bank’s nominees to the board of TD Ameritrade upon completion of the transaction.

Bharat Masrani will be vice chairman and chief risk officer, centralizing risk based control functions of risk management, audit, legal and compliance as well as the bank’s capital management to reflect the impact of the Basel II Accord. Masrani will be a nominee to TD Banknorth’s board of directors.

Fred Tomczyk’s responsibilities will be reorganized in recognition of his expanded role with TD Ameritrade and TD Banknorth. Tomczyk will continue to hold the title of vice chairman, corporate operations. He will be one of the bank’s nominees to the board of TD Ameritrade upon completion of the transaction.

“In consultation with the board of directors we believe these moves are necessary to effectively implement our strategy and appropriately reflect our North American focus,” said Clark, in a release.

“We are a more complex organization today than we were three years ago and the time is right to adjust our organizational approach,” Clark added.