Woodbridge is the holding company for Canadas wealthiest family, the Thomsons. We apologize, but this video has failed to load. 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. Ms. Jennifer Tory retired in 2019 as Royal Bank of Canada's Chief Administrative Officer. pic.twitter.com/l4xHoPe29R. $55,284 / yr. David MacKay got a 9% raise over 2017, thanks in part to banks top position in mutual fund assets. Board Member. Others include Jennifer Tory, also of Royal Bank, who earned C$4.29 million as group head of personal and commercial banking; Toronto-Dominion Banks Colleen Johnston, 58, who brought in C$3.1 million; and Diane Giard, 56, of National Bank of Canada who made C$2.84 million. 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. Royal Bank of Canada Website, 1995-document.write(new Date().getFullYear()), Privacy & Security | Legal | Accessibility, Report a Fraudulent Email or Security Concern. FP Answers aims to find the information you need, RBC's Janice Fukakusa sets pay benchmark for Canada's female bankers, 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? 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.. 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. 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. 2017-2021 . 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. Because the properties were purchased solely to support WE Charity, I simply assisted in their incorporation.. Toronto-Dominion Bank and Bank of Nova Scotia have already released their proxy circulars. Ms. Tory has been instrumental in the advancement of women and other diverse groups at RBC - where diversity is a long-standing core value. Royal Bank of Canada has appointed Jennifer Tory as the new head of its retail bank, its largest and most important business. 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 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.. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. A few weeks before the City leased 233 Carlton, Council agreed to acquire a nearby building, 218 Carlton, for use as affordable housing. Ms. Tory participated in the development of RBCs Diversity Blueprint, a strategic outline of the banks diversity priorities and objectives. HSBC Holdings Plcs Canadian unit is led by Sandra Stuart, 53. 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. Neil McLaughlin, group head, Personal & Commercial Banking, made $4.5 million in total compensation, up from $2.9 million the year before. Fukakusa, who was also Royal Banks chief administrative officer, retired in January after 31 years at the bank. Ms. Tory, who currently serves as regional president for Toronto of the Canadian banking operation, moves into her new job in April. The next issue of Financial Post Top Stories will soon be in your inbox. In 2010, she was named one of Canadas Most Powerful Women: Top 100 by Womens Executive Network. 2011-2021. 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. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. 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? 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.. His son, John Tory, is the current Mayor of Toronto and former Progressive Conservative Party of Ontario leader. 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. 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. The top paid investment-banking head was Royal Banks Doug McGregor, 60, who received C$10 million as group head of capital markets and investor and treasury services. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. Reached by phone, Brenda Ha tells Canadaland that she works with the Kielburger parents on occasion through her personal and corporate concierge company, Check Box Services, and confirmed her role in negotiating the lease agreement for 233 Carlton. His signature is on the articles of incorporation for 7619804 Canada Corporation, and he signed off on its most recent annual return. There is no lack of energy, effort and discussion happening.. 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. Royal Banks annual general meeting will be held April 4, 2019. RBC employees rate the overall compensation and benefits . . Also Tuesday, George Weston announced it has put its Weston Foods bakery business up for sale and plans to focus on its retail and real estate investment operations. 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 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. 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. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. expressly prohibited without the prior written consent of Toronto These positions allow her to significantly influence and impact the banks diversity agenda, plans, and goals. Unauthorized distribution, transmission or republication strictly prohibited. In Canada, there are also no women overseeing investment-banking divisions , whose heads tend to command the highest pay packages after CEOs. If you don't see it, please check your junk folder. document.write(CurrentYear) var _ctct_m = "20dc9acbbb159cf7b9499c45d801ca78"; This field is for validation purposes and should be left unchanged. Her responsibilities will include retail banking operations and certain retail . She will join former RBC CEO Gord Nixon on the BCE. There was an error, please provide a valid email address. Prior to her current role, she was Senior Vice President of Operations for Canadian Banking RBC. Ms. Tory is a member of RBCs Diversity Leadership Council (DLC) and is Chair of the Canadian Banking business units DLC. Allied Properties REIT 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. The most she received in one year was C$4.96 million for 2014. 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. They are still in the minority when it comes to the top executives: only nine, or 21 percent, of the 43 named executives at the eight banks are women, according to regulatory disclosures. View Jennifer Tory's business profile as Board Member at BCE. He was accompanied in Kenya by his sister, Jennifer Tory. $159,715 / yr. Tory, 58, is currently RBC's regional president of Canadian banking for the Greater Toronto region. 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. 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. The banks are definitely playing a leadership role in Canada, Catalysts van Biesen said. Additionally, she provides leadership and oversight of transformational initiatives, with a particular focus on how the enterprise works together to further RBC's success. Jennifer Tory retired after a four-decade career at RBC in 2019. 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. RBC is facing two shareholder proposals this year, both of which the bank advises voting against. Have a question? $72,093 / yr. 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. Elizabeth's mother, Helen Yvonne Solomon, was born . Douglas McGregor received nearly $11.3-million in 2015, though that was down 15 per cent from 2014. 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. The building is now occupied, in part, by a store that repairs laptops and sells electronics. I am honoured to have been asked to lead Personal & Commercial Banking. 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. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. She has been a champion and trailblazer for the advancement of women, LGBTQ+ and BIPOC individuals in both the bank and the broader community. 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. Founded in 1962, Catalyst drives change with preeminent thought leadership, actionable solutions and a galvanized community of multinational corporations to accelerate and advance women into leadershipbecause progress for women is progress for everyone. 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. Thus far, McKay has the second-highest CEO compensation, and TD's CEO has the highest. He was a witness at Craig Kielburgers 2016 wedding, and called Marc a friend in a 2014 tweet, a few weeks before he was elected mayor. 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). 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. We ask you to keep your comments relevant and respectful. As RBCs Chief Administrative Officer Jennifer Tory has responsibility for Brand, Marketing, Citizenship, Communications, Procurement and Real Estate functions globally. Free Tools . She most recently acted as chief administrative officer for the bank. Share this article and your comments with peers on social media, McKay tops bank CEO pay as strong earnings lead to compensation bump, ISS proposes proxy voting policies for 2022, Pandemic takes a bite out of TD CEOs pay, Alternative ETFs : Learn how to differentiate yourself, Home prices in Q4 down year over year, first decline since end of 2008: report, With positive signs on inflation, recession is less of a sure thing, Bank to pay US$31M redlining settlement, DoJs largest ever, Crypto winter, regulatory risk drives S&P downgrade, Prepping for the death of a key money market instrument. She is an outstanding leader with a track record of strong performance throughout her career. David mckay rbc salary - gkeb.mdfmodels.de . Associate Director salaries - 45 salaries reported. Royal Bank of Canada (RY on TSX and NYSE) is Canada's largest bank and one of the largest banks in the world, based on market capitalization. Board Memberships & Affiliations. 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. We encountered an issue signing you up. In another connection to Rogers, Jennifer Torys brother John was a long-time executive at the company before entering politics and is a trustee of the Rogers family trust. 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. At the time, he was leader of the Progressive Conservative Party of Ontario. Kristyn Wong-Tam, the councillor for the area, says she was also not informed in advance. 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. As a committed mentor and advocate, Ms. Tory actively sponsors women into executive roles at the bank. She will join former RBC CEO Gord Nixon on the BCE board, which he chairs. $38,804 / yr. Her passion for employees, clients, and community set her apart, noted Mr. McKay. Still, there are no female chief executive officers among Canadas largest banks, extending an industry shutout that stretches back two centuries. 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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. 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.. The agreement was completed last summer before neighbourhood residents could be consulted. Read more about cookies here. Please try again. 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. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Next door sits 231 Carlton, currently owned by 7619804 Canada Corporation, also registered to Fred and Theresa Kielburger. The next issue of Financial Post Top Stories will soon be in your inbox. RBC announced Mr. Nixons retirement on Dec 6. $60,499 / yr. She will bring to our deliberations a wealth of business acumen, real estate knowledge and people management skills as we continue to grow our business and in our ongoing process of board renewal and succession planning.. 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. Shareholders also withdrew four shareholder proposals: three related to environmental issues and one related to workforce metrics. 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. Theres still a long way to go, Tanya van Biesen, executive director of Catalyst Canada, an organization that promotes women in the workplace, said in an interview. 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 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.. WE told the National Post that Fred and Theresa Kielburger had purchased the property at the foundations request because the organization did not have sufficient funds at the time and then sold it to the foundation for the same price they had paid. The company will hold its annual shareholder meeting via webcast on April 29, at which point the new directors are expected to be approved. Ms. McKays 2018 total direct compensation was $13.5 million, which was 13% above his targeted compensation and a 9% increase from 2017. Visit our Community Guidelines for more information and details on how to adjust your email settings. Some information may no longer be current. We apologize, but this video has failed to load. Graduated. [1] They had four children: John H. Tory (born 1954), Jennifer (born 1955), Jeffrey (born 1960) and Michael (born 1961). About RBC > Media Newsroom > News Releases >RBC names Jennifer Tory as Group Head, Personal & Commercial Banking. 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. Jennifer Grazel Rubio Chief Marketing Officer, RBC Capital Markets US New York, New York, United States 2K followers 500+ connections Join to connect RBC Capital Markets Brown University. Newspapers Limited, 8 Spadina Avenue, 10th Floor, Toronto, ON M5V 0S8, put its Weston Foods bakery business up for sale. 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 . 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. Awarded the Queen's Jubilee Medal in 2013, Tory has a long history of supporting numerous community causes. She will hold office as a Trustee until the next annual meeting of unitholders or until her successor is elected or appointed. Management resources and compensation committee. Thus far, McKay has the second-highest CEO compensation, and TDs CEO has the highest. 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. presentation-ready copies of Toronto Star content for distribution Please try again. 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. For 2016, the CEO's salary was raised to $1.5-million, a 15-per-cent increase. 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. Find contact's direct phone number, email address, work history, and more. 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. 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. Comments may take up to an hour for moderation before appearing on the site. If you don't see it, please check your junk folder. 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. RBC had the highest market cap of the Big Five banks for the period. RBC. From June 2004 to September 2018, the parents allowed WE Charity to use 233 Carlton rent-free. Rod Bolger, chief financial officer, made $4.4 million in total compensation in 2018, up from $3.7 million the year before. Queen's University. The building is owned by 1622774 Ontario Ltd., which lists Fred and Theresa Kielburger as administrators. 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. 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. Further, Guzman accelerated acquisition of new clients through launch of Premier Banking, increasing high-net-worth households, with 25% growth year-over-year.. 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. 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.. 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. Ceo 's salary was raised to $ 1.5-million, a 15-per-cent increase to... View Jennifer Tory & # x27 ; s Jubilee Medal in 2013, Tory has been instrumental in the of! 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