American Banker reported that Walter J. Owens, the head of TD Bank's corporate and specialty lending, has left the company, according to two sources.  According to the report, Owens was dismissed last week but no official reason was given, said an industry source familiar with the matter who asked not to be identified because of the sensitivity of the matter.

According to the report, Owens’ departure leaves a gap in Toronto-Dominion's U.S. leadership. The bank hired Owens in 2008 to oversee a numerous specialized banking operations, including commercial real estate, corporate banking, and specialty banking including asset-based finance, auto finance, equipment leasing and healthcare finance.

Prior to joining TD, Owens was the president of corporate finance at CIT Group and also held several roles at GE, including the position of chief marketing officer at GE Commercial Finance.

The report states it is not immediately clear who will replace him. TD Bank spokeswoman Jennifer Morneau would not discuss the matter on Thursday.