As a committed mentor and advocate, Ms. Tory actively sponsors women into executive roles at the bank. 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. But we have seen that the banks really are working very hard to get their numbers up as far as female representation at the executive suite.. 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. About RBC > Media Newsroom > News Releases >RBC names Jennifer Tory as Group Head, Personal & Commercial Banking. Jennifer Tory received about $4.5-million during her first full year as group head of personal and commercial banking, about double her compensation in 2014, when she was regional president of. Ms. Tory was an active and vocal proponent of diversity and inclusion, long before . 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]. Comments may take up to an hour for moderation before appearing on the site. Some information may no longer be current. This section was produced by the editorial department. Associate salaries - 271 salaries reported. However, in 2008, Tory took a trip to Kenya with his extended family, and spent several days with Marc and Craig there. Wittington also controls Selfridges Group Ltd., which owns the upscale department store Holt Renfrew (Canada). "Jennifer's depth of experience in retail and commercial banking ideally positions her to take on leadership of approximately 35,000 employees who are committed . He is an accountant by training who was chief financial officer and then briefly CEO of George Weston Ltd. before Galen G. Weston assumed the latter role in 2017. 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. Graduated. A major supporter of WE, she called the experience in Kenya her favourite vacation in a 2012 video for RBC, where she is the bank's chief administrative officer. 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. Ms. Tory is a member of RBCs Diversity Leadership Council (DLC) and is Chair of the Canadian Banking business units DLC. His son, John Tory, is the current Mayor of Toronto and former Progressive Conservative Party of Ontario leader. Allied is a leading owner, manager and developer of (i) distinctive urban workspace in Canadas major cities and (ii) network-dense urban data centres in Toronto that form Canadas hub for global connectivity. Client Advisor salaries - 258 salaries reported. It previously served as WEs first headquarters and has been part of a sometimes significant real estate portfolio owned by Fred and Theresa Kielburger. 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. The average RBC hourly pay ranges from approximately $18 per hour for a Client Service Representative to $38 per hour for a Business Analyst. Queen's University. To order 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. These positions allow her to significantly influence and impact the banks diversity agenda, plans, and goals. Web"/> . Royal Bank of Canada has appointed Jennifer Tory as the new head of its retail bank, its largest and most important business. Unauthorized distribution, transmission or republication strictly prohibited. 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. expressly prohibited without the prior written consent of Toronto $72,093 / yr. I am delighted that she will be joining our Group Executive team and I know that we will all benefit from her knowledge, ideas and strong client focus, said Gord Nixon, President and Chief Executive Officer. document.write(CurrentYear) She will hold office as a Trustee until the next annual meeting of unitholders or until her successor is elected or appointed. Awarded the Queens Jubilee Medal in 2012, Jennifer has a long history of supporting numerous community causes. She will join former RBC CEO Gord Nixon on the BCE. Janice Fukakusa, RBC's chief financial officer, received total compensation of about $5-million in 2015, up 1 per cent from 2014. 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. 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, tap here to see other videos from our team. 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. 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.. Douglas McGregor received nearly $11.3-million in 2015, though that was down 15 per cent from 2014. 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. Associate Director salaries - 45 salaries reported. 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.. If you don't see it, please check your junk folder. 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. Visit our Community Guidelines for more information and details on how to adjust your email settings. We ask you to keep your comments relevant and respectful. 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. 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. Board Memberships & Affiliations. When considering the top executives across Canadian banking, Fukakusa ranks 20th overall for compensation. Ms. Torys innovative approaches, such as restructuring regional market responsibilities to create additional development opportunities important for the advancement of high-potential women and visible minorities, are fundamental to her overall strategy of cultivating talent for results. Registered Client Associate salaries - 49 salaries reported. Further, Guzman accelerated acquisition of new clients through launch of Premier Banking, increasing high-net-worth households, with 25% growth year-over-year.. Ms. Tory completed her ICD.D designation through the Institute of Corporate Directors at the Rotman School of Management. She most recently acted as chief administrative officer for the bank. Jennifer Tory is a corporate director who was, until her retirement in December 2019, the Chief Administrative Officer of RBC (a chartered bank), where she held responsibility for Brand, Marketing, Citizenship & Communications, Procurement and Real Estate functions globally. Janice Fukakusa, Royal Bank of Canadas former chief financial officer, was the highest paid woman among the countrys eight largest lenders in fiscal 2016, bringing in C$4.67 million in compensation excluding pension. Victor Li, the CFO for WE Charity and ME to WE, assisted the Kielburger parents in setting up both numbered companies. Toronto-Dominion Bank and Bank of Nova Scotia have already released their proxy circulars. WE says the brothers and the mayor have a relationship built on their mutual commitment to public service, but there is no social or otherwise personal relationship.. RBC announced Mr. Nixons retirement on Dec 6. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. As Regional President of the Greater Toronto Region at RBC for the past five years, Jennifer Tory has worked tirelessly to advance women and visible minorities both in the bank and her community. Jennifer Tory received about $4.5-million during her first full year as group head of personal and commercial banking, about double her compensation in 2014, when she was regional president of the Greater Toronto Regional for six months of the year. The banks are definitely playing a leadership role in Canada, Catalysts van Biesen said. Read more about cookies here. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. She is an outstanding leader with a track record of strong performance throughout her career. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Investor contact: It was transferred to the City for $2 as part of a community-benefits arrangement with the developer of a condo tower more than a kilometre away on Charles Street. FP Answers aims to find the information you need, RBC names Jennifer Tory as head of retail bank, Get ready for another rate hike: What economists are saying about the inflation numbers, 4 ways the wealthy can make a dent in a large tax bill, Posthaste: Correction? Management resources and compensation committee. This copy is for your personal non-commercial use only. Salary information comes from 1,524 data points collected directly from employees, users, and past and present . We employ approximately 79,000 full- and part-time employees who serve more than 15 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 44 other countries. 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. 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. The most she received in one year was C$4.96 million for 2014. var CurrentYear = new Date().getFullYear() Ms. Tory has been instrumental in the advancement of women and other diverse groups at RBC - where diversity is a long-standing core value. 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. 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This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. George Lewis, group head of wealth management and insurance, received about $4-million, down 6.5 per cent due to a lower bonus. Board Member. $159,715 / yr. Properties on Carlton Street are part of a once-expansive portfolio owned by the parents of Craig and Marc Kielburger, CANADALAND Inc is registered as a limited liability corporation with the province of Ontario. 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. presentation-ready copies of Toronto Star content for distribution Allieds business is providing knowledge-based organizations with distinctive urban environments for creativity and connectivity. We encountered an issue signing you up. Both companies were established by Fred and Theresa Kielburger specifically to own, respectively, 233 Carlton St. and 231 Carlton St., Li said in a statement provided by WE in 2019. In addition, she is active in the community through volunteer roles with Sunnybrook Hospital Foundation, the Toronto International Film Festival, the Canadian Olympic Foundation and Free the Children, and until recently the Toronto Region Board of Trade. Peat says Tory fully paid the costs for the trip. The estimated base pay is $177,025 per year. BCE is boosting the diversity of its board with the appointments of Tory and Wright, who is one of a small number of Black partners at top corporate law firms in Canada. The disclosure in BCEs filing provides a rare glimpse into the operations of Wittington, an investment vehicle for the Westons, one of the wealthiest families in Canada (they ranked third on the Forbes Billionaires 2020 list). "Not only did we do a safari, but we spent four days with Marc and Craig Kielburger and Free The Children," Jennifer . 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 will move into the position left vacant by Dave McKay, who takes over as RBCs chief executive effective Feb 26, the same day as the banks annual meeting in Toronto. She most recently acted as chief administrative officer for the bank. Throughout her 42-year career, Ms.Tory held a number of key senior operating positions across retail distribution and operations, including overseeing digital & cost transformation of the business. Torys itself often acts for BCE rival Rogers Communications Inc. and the firm is advising the Rogers Control Trust, the Rogers family trust, in that companys $20-billion bid to acquire Shaw Communications Inc., which was announced last week. BCE, Canadas largest communications company, also said it has nominated Jennifer Tory, retired Royal Bank of Canada executive and sister of Toronto mayor John Tory, to its board. 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. As a committed mentor and advocate, Ms. Tory actively sponsors women into executive roles at the bank. Her experience in setting business strategies coupled with her execution capabilities will serve her well as she builds on the strength and momentum of Personal & Commercial Banking. 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. 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. Ms. Tory, 58, has been with RBC for more than 35 years, rising through a series of increasingly senior positions. Asked about the nature of Torys relationship with Marc and Craig, Don Peat, the mayors communications director, says he was a volunteer in support of the Kielburgers charitable endeavours before being elected. Karen McCarthy, Director, Investor Relations, 416-955-7809, Media contact: Scotiabanks Ignacio Nacho Deschamps received the most among all executives with C$12.75 million in compensation as group head of international banking and digital transformation though that included a C$5.7 million sign-on award. 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. Jennifer Tory is a most welcome addition to our Board, said Gordon Cunningham, Chair of Trustees. Along with other members of Group Executive, Jennifer is responsible for setting the overall strategic direction of RBC. Ms. Tory, who currently serves as regional president for Toronto of the Canadian banking operation, moves into her new job in April. 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 . Those womenreceived C$22.3 million in compensationfor the year ended Oct. 31, or about 10 percent of C$214 million the executives earned in total. The estimated additional pay is $183,202 per year. The same numbered company also owned a property at 329 Queen Street East before selling it to the ME to WE Foundation for $2.6 million in early 2019. From August 2010 to September 2018, WE used the building rent-free, which WE says represented $702,900 in foregone rental income. Fukakusa, who was also Royal Banks chief administrative officer, retired in January after 31 years at the bank. Ms. Tory joined RBC in 1978. Manager salaries - 239 salaries reported. Ms. Tory participated in the development of RBCs Diversity Blueprint, a strategic outline of the banks diversity priorities and objectives. 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. David McKay, president and CEO of Royal Bank of Canada, made $14.5 million in total compensation last year, according to the bank's proxy circular released Thursday. Tory, 58, is currently RBC's regional president of Canadian banking for the Greater Toronto region. We ask you to keep your comments relevant and respectful. 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. 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 in compensation excluding pension. TORONTO, JUNE 8, 2011 Catalyst Canada announced today that it will honour Jennifer Tory, RBC's Regional President of Greater Toronto, for her ongoing contributions to advancing women in business. 2011-2021. David mckay rbc salary - gkeb.mdfmodels.de . A request for the bank to disclose the equity ratio used by the compensation committee in its compensation-setting process. permissions/licensing, please go to: www.TorontoStarReprints.com. 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. Shareholders also withdrew four shareholder proposals: three related to environmental issues and one related to workforce metrics. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. TORONTO, Feb. 24, 2017 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) today announced that Jennifer Tory, currently Group Head Personal & Commercial Bank (P&CB) will assume the role of Chief . Average RBC hourly pay ranges from approximately $9.00 per hour for Teller to $125 per hour for Pharmacist. Every day, get the financial news that matters in your inbox. The agreement was completed last summer before neighbourhood residents could be consulted. Both WE and the Mayors Office say that Tory has never been paid to attend or speak at a WE event. RBC is facing two shareholder proposals this year, both of which the bank advises voting against. 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. Dave McKay, who became CEO of the Royal Bank of Canada in August 2014, received a salary of $1.3-million in 2015, along with a bonus of about $2.3-million and stock options valued at about $7.3-million. 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 . Allied Properties REIT She noted that both Tory and Wright are seasoned executives committed to supporting all the stakeholders that BCE serves, and will offer valuable guidance as we build Bells leadership in environmental, social and governance standards.. About Jennifer Tory. Neil McLaughlin, group head, Personal & Commercial Banking, made $4.5 million in total compensation, up from $2.9 million the year before. She will report to Mr. McKay and will become a member of RBCs Group Executive, which is responsible for setting the overall strategic direction of the bank. A champion of diversity, Ms.Tory is the recipient of numerous awards recognizing her work related to the advancement of women and advocacy for BIPOC and LGBTQ+ communities. 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. For more information, please visit rbc.com. There was an error, please provide a valid email address. This advertisement has not loaded yet, but your article continues below. Please try again. 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-Dominion Bank and Bank of Nova Scotia have already released their proxy circulars. He was accompanied in Kenya by his sister, Jennifer Tory. 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, said current chief executive Gord Nixon. About RBC A search late last week showed just three properties in their names, estimated at a quarter of that. 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. Jennifer Tory retired after a four-decade career at RBC in 2019. Ive worked with Jennifer for many years. 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. 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. TIFF. Woodbridge is the holding company for Canadas wealthiest family, the Thomsons. Republication or distribution of this content is Client Associate salaries - 39 salaries reported. Visit our Community Guidelines for more information and details on how to adjust your email settings. As RBCs Chief Administrative Officer Jennifer Tory has responsibility for Brand, Marketing, Citizenship, Communications, Procurement and Real Estate functions globally. As for the other named executive officers: The circular notes that 45% of RBCs executives in Canada are women, and 22% of the firms group executive are women. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy. [1] They had four children: John H. Tory (born 1954), Jennifer (born 1955), Jeffrey (born 1960) and Michael (born 1961). Five of the 12 board nominees this year are women, or 42%. 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. HSBC Holdings Plcs Canadian unit is led by Sandra Stuart, 53. Awarded the Queen's Jubilee Medal in 2013, Tory has a long history of supporting numerous community causes. Her responsibilities will include retail banking operations and certain retail . 365 Bloor Street East, Toronto, Ontario, M4W 3L4. 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.. David McKay, president and CEO of Royal Bank of Canada, made $14.5 million in total compensation last year, according to the banks proxy circular released Thursday. Ms. Tory served as the Chief Administrative Officer of RBC from May 2017 until her retirement on December 31, 2019, where she was responsible for Brand, Marketing, Citizenship, Communications, Procurement and Real Estate functions globally. Royal Bank of Canada Website, 1995-document.write(new Date().getFullYear()), Privacy & Security | Legal | Accessibility, Report a Fraudulent Email or Security Concern. This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. McKays 2018 total direct compensation was $13.5 million, which was 13% above his targeted compensation and a 9% increase from 2017. $55,284 / yr. 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. Mayor John Tory, whose office says he was not involved in the lease, has a relationship with the WE co-founders. This advertisement has not loaded yet, but your article continues below. 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. At the time, he was leader of the Progressive Conservative Party of Ontario. 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.". 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