Ray Chun, Toronto-Dominion Bank's new chief executive, unveiled his turnaround plans during the bank's investor day on Monday.

Ray Chun, Toronto-Dominion Bank’s new chief executive, has unveiled his plans for a multi-year rebuild, emphasizing the need to lower the lender’s cost base, return capital to shareholders and form deeper relationships with its clients.

Mr. Chun also stressed that TD TD-T has some work to do to regain its reputation as a top performer, a break from the previous regime that repeatedly told investors the bank was in stellar shape.

“While our business is strong, we are committed to regaining leading performance,” Mr. Chun said in presentation slides for the bank’s investor day in Toronto on Monday.

While Mr. Chun has grand plans, he acknowledged returns will hav

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