His pension, perks and other compensation totalled approximately $1 million, bringing his total compensation to $14.5 million for fiscal 2018. WE says that Marc Kielburger, representing his parents, also spoke to City staff about the 12,754-square-foot building, seeking greater clarification on the proposed use of the site.. Ms. Tory is a member of RBCs Diversity Leadership Council (DLC) and is Chair of the Canadian Banking business units DLC. Ms. Tory has been instrumental in the advancement of women and other diverse groups at RBC - where diversity is a long-standing core value. These positions allow her to significantly influence and impact the banks diversity agenda, plans, and goals. Because the total value of the contract was less than $10 million, the decision was delegated to City staff and did not go to City Council for approval [pdf]. Ms. Tory will move into the position left vacant by Dave McKay, who takes over as RBC's chief executive effective Feb 26, the same day as the bank's annual meeting in Toronto. Shareholders also withdrew four shareholder proposals: three related to environmental issues and one related to workforce metrics. Find contact's direct phone number, email address, work history, and more. $139,667 / yr. The estimated total pay for a Director at RBC is $360,228 per year. He has advised many of Canadas top companies on mergers and acquisitions (M&A) and has experience working for family-controlled companies, having represented the Woodbridge Company and its subsidiary Thomson Reuters on a number of transactions. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. $55,284 / yr. In this role, Ms. Tory will be responsible for the strategy and performance of the Personal & Commercial Banking segment which comprises RBCs personal banking operations and certain retail investment businesses in Canada, the Caribbean and the U.S., as well as RBCs commercial banking operations in Canada and the Caribbean. According to WE Charity, a real estate agent hired by the City approached Fred and Theresa Kielburger regarding 233 Carlton Street, which they own through a numbered company. RBC is facing two shareholder proposals this year, both of which the bank advises voting against. Ms. Tory is the Chair of Sunnybrook Hospital Foundations Capital Campaign, and sits on the Boards of Directors of the Toronto Board of Trade and the Toronto International Film Festival. In July, Wright took part in a webcast on leadership and anti-Black racism with Wes Hall, the founder of and executive chairman of shareholder services and advisory firm Kingsdale Advisors, who launched the BlackNorth Initiative last summer in the wake of the police killing of George Floyd in the U.S. Wright said business leaders could respond to the low representation of Black, Indigenous and people of colour in corporate Canada by helping to foster a vibrant pipeline of diverse people to pursue full leadership across a range of institutions. He said a key priority should be making sure we are consciously thinking about how to diversify the upper echelons of leadership roles, whether its in the C-suite or on boards., BCE is focused on attracting the most capable directors while also actively growing the diversity of our board, and were making strong progress, BCE spokeswoman Marie-Eve Francoeur said Tuesday. To order copies of Both WE and the Mayors Office say that Tory has never been paid to attend or speak at a WE event. Web"/> . Newspapers Limited, 8 Spadina Avenue, 10th Floor, Toronto, ON M5V 0S8, put its Weston Foods bakery business up for sale. Read more about cookies here. Free Tools . Fukakusa, 62, was one of a handful of veteran women executives in Canadian banking that have kept pace with their male counterparts. Having started her career with the Royal Bank of Canada in 1978, Ms. Tory held successively senior leadership roles, including as Group Head, Personal & Commercial Banking responsible for RBC's banking businesses in Canada and the Caribbean from April 2014 until May 2017. If you don't see it, please check your junk folder. She is an experienced change leader who has led transformational initiatives in multiple areas of Canadian Banking, improving the client and employee experience while delivering efficiencies. The next issue of Financial Post Top Stories will soon be in your inbox. There was an error, please provide a valid email address. Douglas Guzman, group head of RBC Wealth Management and RBC Insurance, made $7.5 million in total compensation for fiscal 2018, up slightly from $7.4 million in 2017. According to a signed statement WE provided from a Sothebys realtor last year, that represented an in-kind value of nearly $4.7 million. Ms. Tory, 58, has been with RBC for more than 35 years, rising through a series of increasingly senior positions. A few weeks before the City leased 233 Carlton, Council agreed to acquire a nearby building, 218 Carlton, for use as affordable housing. A partner from the prominent corporate law firm Torys LLP is poised to take over as president of the holding company that controls Loblaw owner George Weston Ltd. Cornell Wright is set to become executive vice-president at Wittington Investments, Ltd. on May 1 and will take over as president by the end of the year. While Ontarios Municipal Property Assessment Corporation values 233 Carlton at just $2.26 million for tax purposes, the City says the property was not offered being offered for sale. $72,093 / yr. Despite speculation by residents of Torontos Cabbagetown neighbourhood, who have pointed to Mayor John Torys long relationship with the Kielburgers, a spokesperson for the mayor says he had no involvement in the decision, which was made by City staff without Council approval. It previously served as WEs first headquarters and has been part of a sometimes significant real estate portfolio owned by Fred and Theresa Kielburger. Jennifer Tory retired after a four-decade career at RBC in 2019. Having started her career with Royal Bank of Canada ("RBC") in 1978, Ms. Tory held successively senior leadership roles, including as Group Head, Personal & Commercial Banking responsible for . A dedicated sponsor, passionate speaker, and active community member, Ms. Tory continues to develop and advance women while providing an example for others of the value of diversity. Mr. McKay also led the $5-billion (U.S.) takeover of Los Angeles-based City National Corp., which closed in November amid big hopes for expansion in the United States. These now-retired teachers have been able to generously support the good works of their sons because of their history of buying, self-renovating, and selling 18 properties in the Toronto area over a 40-year period of rising Toronto property prices, WE told Canadaland last year. He was accompanied in Kenya by his sister, Jennifer Tory. Graduated. Visit our Community Guidelines for more information and details on how to adjust your email settings. We apologize, but this video has failed to load. WE told Canadaland in 2019 that the ME to WE social enterprise, WE Charitys for-profit sister company, covered the property taxes and mortgage interest in the form of an annual donation each August, for $97,200. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Tory has also appeared at WE Day and on stage when WE opened its Global Learning Centre, a standout building in Torontos Corktown neighbourhood that WE opened in 2017. Her responsibilities will include retail banking operations and certain retail . 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Kristyn Wong-Tam, the councillor for the area, says she was also not informed in advance. Additionally, she provides leadership and oversight of transformational initiatives, with a particular focus on how the enterprise works together to further RBCs success. TORONTO, February 25, 2014 - Royal Bank of Canada (RY on TSX and NYSE) announced today that Jennifer Tory has been appointed Group Head, Personal & Commercial Banking. Client Associate salaries - 39 salaries reported. Those women include Laura Dottori-Attanasio, chief risk officer at Canadian Imperial Bank of Commerce, Bank of Montreals Joanna Rotenberg, who became group head of wealth management in November and Brenda Rideout, who took the helm of Scotiabanks online lender Tangerine on March 1 after the units former CEO Peter Aceto departed. The property is currently assessed at just under $2.3 million for tax purposes. About RBC As a committed mentor and advocate, Ms. Tory actively sponsors women into executive roles at the bank. rights reserved. Awarded the Queen's Jubilee Medal in 2013, Tory has a long history of supporting numerous community causes. From June 2004 to September 2018, the parents allowed WE Charity to use 233 Carlton rent-free. The Mayors Office says John Tory has no relationship with Fred or Theresa Kielburger, was not involved in the decision to select 233 Carlton, and had no knowledge about current or previous ownership of the building.. TORONTO, July 29, 2020 (GLOBE NEWSWIRE) -- Allied Properties Real Estate Investment Trust (Allied) (TSX:AP.UN) announced today that Jennifer Tory has been appointed as a trustee of Allied (a Trustee) by the Trustees. In particular, she assisted in the development of the components related to women, visible minorities, and newcomers to Canada. Jennifers depth of experience in Retail and Commercial banking ideally positions her to take on leadership of approximately 35,000 employees who are committed to serving the needs of our clients. Please try again. The estimated base pay is $177,025 per year. Associate Director salaries - 45 salaries reported. Allied Properties REIT Not only did we do a safari, but we spent four days with Marc and Craig Kielburger and Free The Children, Jennifer said in the video, referring to WE Charity by its name at the time. Fukakusa, who was also Royal Bank's chief administrative officer, retired in January after 31 years at the bank. We encountered an issue signing you up. Republication or distribution of this content is We ask you to keep your comments relevant and respectful. She will join former RBC CEO Gord Nixon on the BCE. permissions/licensing, please go to: www.TorontoStarReprints.com. pic.twitter.com/l4xHoPe29R. Leads by Industry . HSBC Holdings Plcs Canadian unit is led by Sandra Stuart, 53. | Source: document.write(CurrentYear) Tory, 58, is currently RBC's regional president of Canadian banking for the Greater Toronto region. Cinematheque Ontario. Wittington also controls Selfridges Group Ltd., which owns the upscale department store Holt Renfrew (Canada). Companies only need to disclose compensation for all named executive officers, which include the CEO, CFO and each of the three most highly paid executives whose total compensation is above C$150,000, according to regulatory requirements. Education. Elizabeth's mother, Helen Yvonne Solomon, was born . With this timing in place, we recently communicated the appointment of Cornell Wright as executive vice-president, (Wittington) effective May 1, 2021 with the plan to transition into the president role on Jan. 1, 2022.. The City tells Canadaland that the majority of the negotiations were conducted with Ha but that there were one or two direct telephone conversations with Marc Kielburger prior to signing the lease to discuss the type of program that would be offered and the community engagement process that we would follow.. Have a question? She is Chair, Toronto International Film Festival Board and sits on the Sunnybrook Hospital Foundation Board; Jennifer is also a fundraiser for several other charitable organizations including WE (formerly Free the Children) and United Way. We encountered an issue signing you up. Jennifer Tory is a most welcome addition to our Board, said Gordon Cunningham, Chair of Trustees. Please try again. David mckay rbc salary - gkeb.mdfmodels.de . Board Member. Toronto-Dominions Teri Currie, who also heads domestic personal banking, made her debut on the named executives list, ranking third after RBCs Tory, at C$3.39 million. Board Memberships & Affiliations. We have enabled email notificationsyou will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. If you don't see it, please check your junk folder. Wrights new job was disclosed Tuesday in an annual regulatory filing by BCE Inc., which has nominated the lawyer to its board of directors. This city might have the strongest housing market in Canada, BMO gets green light to buy Bank of the West in biggest deal ever for Canadian bank, A mental health crisis in Canada is fuelling billions in losses for employers, Janice Fukakusa, Royal Bank of Canada's former chief financial officer, was the highest paid woman among the country's eight largest lenders in fiscal 2016, bringing in C$4.67 million, Discover how Canadian businesses are embracing sustainability, Helping you build a more sustainable business, Royal Bank chief financial officer Janice Fukakusa to retire after 31 years at Canadas biggest bank, Royal Bank of Canada eyeing more expansion in U.S. after US$5-billion City National deal, tap here to see other videos from our team. Prior to this role, she was Group Head, Personal & Commercial Banking, leading RBCs retail and commercial customer businesses and operations in Canada and the Caribbean from2014-2017. Wright also has a history with the Weston family, previously representing Loblaw in its $12.4 billion deal to acquire Shoppers Drug Mart Corp. in 2014 and working on the spin-out of Loblaws interest in Choice Properties REIT in 2018. Top image: a September 2019 Google Street View photo of 233 and 231 Carlton Street. Mr. McKay's compensation was 9 per cent above the target compensation established at the start of the year, after RBC's annual profit, client satisfaction scores and credit quality surpassed thresholds. Its not far off market [rate], although I would want to be able to look at the inside to see if its a high-quality space, says Matt Wood, a real estate agent based in Cabbagetown, who specializes in commercial properties. All rights reserved. Tory married Elizabeth (Liz) Bacon, a nurse, on May 15, 1953. Wittington is the Weston family holding company in Canada and majority shareholder of George Weston, which owns grocery giant Loblaw as well as bakery Weston Foods and real estate operations Choice Properties Real Estate Investment Trust. expressly prohibited without the prior written consent of Toronto The board noted that Guzman held RBCs position as Canadas largest retail fund company and largest full-service wealth advisory business. An acknowledged community leader and fundraiser, she currently sits on the board of the Sunnybrook Hospital Foundation Board and recently completed her term on the board of the Toronto International Film Festival, the past 5 years as Chair. [1] They had four children: John H. Tory (born 1954), Jennifer (born 1955), Jeffrey (born 1960) and Michael (born 1961). WE told Canadaland in 2019 that the net value of ME to WE real estate assets is zero, as the value of all assets [is] 100% fully leveraged through low interest repayable loans to three generous outside individuals/groups who support the concept of social entrepreneurship and ME to WE.. Ms. Because the properties were purchased solely to support WE Charity, I simply assisted in their incorporation.. Douglas McGregor, group head, RBC Capital Markets and RBC Investor & Treasury Services, made $10.8 million in total compensation, the same amount as 2017. Toronto Star articles, please go to: www.TorontoStarReprints.com, Conversations are opinions of our readers and are subject to the, The Toronto Star and thestar.com, each property of Toronto Star She will join former RBC CEO Gord Nixon on the BCE board, which he chairs. An August 2018 search showed seven Toronto residential properties registered in the names of one or both, estimated to be worth approximately $24 million at the time, according to listing.ca. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. RBC. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. As a committed mentor and advocate, Ms. Tory actively sponsors women into executive roles at the bank. That involvement ceased when he became Mayor, though he has, as Mayor, attended a number of events directly or indirectly related to those charitable and community endeavours, Peat says. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. But in 2014, he signalled his decision to become a visible leader on LGBTQ issues by participating in a workplace event put on by his employer, Royal Bank of Canada, on National Coming Out Day. I am honoured to have been asked to lead Personal & Commercial Banking. Some information may no longer be current. A request that the bank create a new technologies committee. Ms. Tory will take over in April 2014 from Dave McKay, who, as previously announced will become President of RBC on February 26, 2014 and then President and CEO on August 1, 2014. Having started her career with Royal Bank of Canada ("RBC") in 1978, Ms. Tory held successively senior leadership roles, including as Group Head, Personal & Commercial Banking responsible for . Her commitment to advancing women and diversity extends beyond her role at the bank into her community. It is a wonderful thing to be recognized for what, for me, has provided my greatest satisfaction in my 33 years at RBC developing people.. Her passion for employees, clients, and community set her apart, noted Mr. McKay. presentation-ready copies of Toronto Star content for distribution The board attributes this to, among other things, RBC maintaining its number-one market share in Canadian mutual fund assets under management and the success of the firms continued U.S. expansion. The building is set to become the new home of the Adelaide Resource Centre for Women, a 24-hour drop-in centre, expected to open in the third quarter of 2021. Jennifer Tory, ICD.D, C.M. The next issue of Financial Post Top Stories will soon be in your inbox. Since joining RBC in 1978, she has held a variety of senior leadership and executive sales management roles in personal, business and commercial banking, and operations. There are other women executives at Canadian financial firms who dont get named in regulatory filings but hold senior roles and more are increasing in the ranks. This section was produced by the editorial department. A request for the bank to disclose the equity ratio used by the compensation committee in its compensation-setting process. "Not only did we do a safari, but we spent four days with Marc and Craig Kielburger and Free The Children," Jennifer . Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc. A welcome email is on its way. Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc. A welcome email is on its way. However, in 2008, Tory took a trip to Kenya with his extended family, and spent several days with Marc and Craig there. She is the sister of Toronto mayoral candidate John Tory, who is also a former leader of the Progressive Conservative Party of Ontario, and the daughter of John A. Tory, co-founder of the Bay Street law firm of Torys LLP. As she does at RBC, Ms. Tory challenges these organizations to advance women and visible minorities in order to generate results by reflecting the populations they serve. He was accompanied in Kenya by his sister, Jennifer Tory. The highest-paid Canadian bank CEO last year was Royal Banks David McKay, 53, who brought in C$11.5 million, followed by Bank of Montreals William Downe, 64, with C$10.6 million and Scotiabanks Brian Porter, 59, at C$10.1 million. Douglas McGregor received nearly $11.3-million in 2015, though that was down 15 per cent from 2014. Prior to her current role, Jennifer was Group Head, Personal & Commercial Banking responsible for RBCs banking businesses in Canada and the Caribbean, including personal and financial services, credit cards and payments, digital solutions, as well as RBCs sales and branch distribution, operations and advice centres. The average RBC hourly pay ranges from approximately $18 per hour for a Client Service Representative to $38 per hour for a Business Analyst. Bay Streets highest-paid female banker set a new benchmark for women executives in the banking industry though their ranks among the top wage earners remain thin. The average RBC salary ranges from approximately $37,504 per year for a Branch Operations Assistant to $243,819 per year for a Managing Director. Ms. Tory completed her ICD.D designation through the Institute of Corporate Directors at the Rotman School of Management. Her determination to identify talent early, proactively develop, and publicly sponsor individuals make Ms. Tory a role model, and her practices are a guide for her colleagues and other business leaders. $138,110 / yr. Analyst salaries - 222 salaries reported. Under Mr. McKay's leadership, RBC's profit topped $10-billion in 2015 and eclipsed Toronto-Dominion bank in terms of total assets in the first quarter of this year a notable achievement given that one of RBC's strategic goals is to be Canada's "undisputed leader in financial services.". TORONTO, February 25, 2014 - Royal Bank of Canada (RY on TSX and NYSE) announced today that Jennifer Tory has been appointed Group Head, Personal & Commercial Banking. var _ctct_m = "20dc9acbbb159cf7b9499c45d801ca78"; This field is for validation purposes and should be left unchanged. Jennifer Tory is a corporate director who was, until her retirement in December2019, the Chief Administrative Officer of RBC (a chartered bank), where she held responsibility for Brand, Marketing, Citizenship & Communications, Procurement and Real Estate functions globally. That is separate from the nearly $6.1 million the City plans to spend for the 10-year lease, if it also exercises an optional five-year extension. Manager salaries - 239 salaries reported. Thus far, McKay has the second-highest CEO compensation, and TDs CEO has the highest. One of RBCs core values is diversity for growth and innovation, and Im fortunate to be part of an organization that believes in championing women and supports efforts to move the bar in senior leadership representation. Investor contact: Have a question? Rod Bolger, chief financial officer, made $4.4 million in total compensation in 2018, up from $3.7 million the year before. Unauthorized distribution, transmission or republication strictly prohibited. This article was published more than 6 years ago. She will hold office as a Trustee until the next annual meeting of unitholders or until her successor is elected or appointed. For more information, please visit rbc.com. As RBCs Chief Administrative Officer Jennifer Tory has responsibility for Brand, Marketing, Citizenship, Communications, Procurement and Real Estate functions globally. Associate salaries - 271 salaries reported. During her career, Jennifer has held successively senior leadership roles including Senior Vice President Sales Effectiveness, Senior Vice President Operations, and Regional President, Greater Toronto Region. McKays 2018 total direct compensation was $13.5 million, which was 13% above his targeted compensation and a 9% increase from 2017. RBC had the highest market cap of the Big Five banks for the period. 2017-2021 . Along with other members of Group Executive, Jennifer is responsible for setting the overall strategic direction of RBC. Mayor John Tory, whose office says he was not involved in the lease, has a relationship with the WE co-founders. Royal Bank of Canada's chief executive officer was paid $10.9-million in total compensation in 2015, his first full year as CEO, marking a 44-per-cent increase from the previous year. July 29, 2020 17:01 ET Peat says Tory fully paid the costs for the trip. David MacKay got a 9% raise over 2017, thanks in part to banks top position in mutual fund assets. His son, John Tory, is the current Mayor of Toronto and former Progressive Conservative Party of Ontario leader. Janice Fukakusa, RBC's chief financial officer, received total compensation of about $5-million in 2015, up 1 per cent from 2014. Wojtek Dabrowski, Director, P&CB Communications, 416-974-3718, Royal Bank of Canada Website, 1995-document.write(new Date().getFullYear()), Privacy & Security | Legal | Accessibility, RBC names Jennifer Tory as Group Head, Personal & Commercial Banking. Thus far, McKay has the second-highest CEO compensation, and TD's CEO has the highest. We are one of North America's leading diversified financial services companies, and provide personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. Newcom Media Inc. We use cookies to make your website experience better. Jennifer Tory has served as national co-chair of WE Day, and a now-deleted page on WEs website listed her as a Founding Family Champion. RBC is one of WE Charitys Founding Partners, but on Thursday The Globe and Mail reported that the bank is now reconsidering its relationship. Ive worked with Jennifer for many years. We have enabled email notificationsyou will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. Analyze our traffic also not informed in advance long-standing core value but this video has failed to load the for! X27 ; s direct phone number, email address, work history, and TD & # x27 ; mother! September 2019 Google Street View photo of 233 and 231 Carlton Street supporting numerous community causes he was in... Unit is led by Sandra Stuart, 53 which owns the upscale store! Am honoured to have been asked to lead Personal & Commercial banking website! 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