$159,715 / yr. 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? The property is currently assessed at just under $2.3 million for tax purposes. Have a question? In Canada, there are also no women overseeing investment-banking divisions , whose heads tend to command the highest pay packages after CEOs. 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. 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. Royal Banks annual general meeting will be held April 4, 2019. As a committed mentor and advocate, Ms. Tory actively sponsors women into executive roles at the bank. 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. Allied Properties REIT. 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.. 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. RBC had the highest market cap of the Big Five banks for the period. $138,110 / yr. Analyst salaries - 222 salaries reported. 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. 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 said they and Marc Kielburger also discussed the installation of an elevator and if that would be done by the landlord or leaseholder. The City will take on all the renovations, and plans to spend $3.7 million on them before the centre opens. 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. 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. Tory married Elizabeth (Liz) Bacon, a nurse, on May 15, 1953. 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 . This advertisement has not loaded yet, but your article continues below. Women also populate the CEO level and senior ranks at the countrys credit unions, including Vancouver City Savings Credit Union, headed by Tamara Vrooman. Mayor John Tory, whose office says he was not involved in the lease, has a relationship with the WE co-founders. David mckay rbc salary - gkeb.mdfmodels.de . Five of the 12 board nominees this year are women, or 42%. 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. 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. 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. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. 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. 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 . She will join former RBC CEO Gord Nixon on the BCE board, which he chairs. 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. Additionally, she provides leadership and oversight of transformational initiatives, with a particular focus on how the enterprise works together to further RBCs success. 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. The lease started on January 1. The company will hold its annual shareholder meeting via webcast on April 29, at which point the new directors are expected to be approved. Pavi Binning is the current president of Wittington. Read more about cookies here. Fukakusa, who was also Royal Banks chief administrative officer, retired in January after 31 years at the bank. She will join former RBC CEO Gord Nixon on the BCE. 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. Tory, 58, is currently RBC's regional president of Canadian banking for the Greater Toronto region. Unauthorized distribution, transmission or republication strictly prohibited. Visit our Community Guidelines for more information and details on how to adjust your email settings. McKays 2018 total direct compensation was $13.5 million, which was 13% above his targeted compensation and a 9% increase from 2017. 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. Next door sits 231 Carlton, currently owned by 7619804 Canada Corporation, also registered to Fred and Theresa Kielburger. These positions allow her to significantly influence and impact the banks diversity agenda, plans, and goals. 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. 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. At the time, he was leader of the Progressive Conservative Party of Ontario. Comments may take up to an hour for moderation before appearing on the site. Jennifer Tory, ICD.D, C.M. 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. 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. 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. 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. var CurrentYear = new Date().getFullYear() Wright has been a partner at Torys for more than a decade and is chair of the firms corporate department. We ask you to keep your comments relevant and respectful. 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 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. There is no lack of energy, effort and discussion happening.. A recipient of the 2011 Catalyst Canada Honour for championing women in business, Jennifer has been recognized by Womens Executive Network (WXN) as one of Canadas Most Powerful Women: Top 100 and was inducted into the WXN Hall of Fame in 2017. She has been acknowledged both internally and externally for her leadership in diversity and received a number of awards, including a Harry Jerome Award in 2013 and the Leading Executive Ally Award by Start Proud (formerly Out on Bay) in 2016. His son, John Tory, is the current Mayor of Toronto and former Progressive Conservative Party of Ontario leader. RBC employees rate the overall compensation and benefits . 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. Graduated. 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. 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. About RBC The next issue of Financial Post Top Stories will soon be in your inbox. There was an error, please provide a valid email address. Follow David Berman on Twitter: @dberman_ROBOpens in a new window, Checking box will enable automatic data updates. Find contact's direct phone number, email address, work history, and more. 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. 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. 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. 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. In particular, she assisted in the development of the components related to women, visible minorities, and newcomers to Canada. 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. 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. Newspapers Limited, 8 Spadina Avenue, 10th Floor, Toronto, ON M5V 0S8, put its Weston Foods bakery business up for sale. The City said renovations have not started yet. We encountered an issue signing you up. Visit our Community Guidelines for more information and details on how to adjust your email settings. WE says Fred and Theresa did not receive a tax receipt for either agreement. 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.. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. 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.Darren Calabrese/The Globe and Mail. 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. 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. 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. 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. 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. 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. A representative then handled the deal on the Kielburgers behalf. Awarded the Queen's Jubilee Medal in 2013, Tory has a long history of supporting numerous community causes. permissions/licensing, please go to: www.TorontoStarReprints.com. Fukakusa, 62, was one of a handful of veteran women executives in Canadian banking that have kept pace with their male counterparts for pay over the years. She has been a champion and trailblazer for the advancement of women, LGBTQ+ and BIPOC individuals in both the bank and the broader community. I am honoured to have been asked to lead Personal & Commercial Banking. Still, there are no female chief executive officers among Canadas largest banks, extending an industry shutout that stretches back two centuries. Salary information comes from 1,524 data points collected directly from employees, users, and past and present . Cinematheque Ontario. We ask you to keep your comments relevant and respectful. 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. 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. 1978-2019. As RBC's Chief Administrative Officer Jennifer Tory has responsibility for Brand, Marketing, Citizenship, Communications, Procurement and Real Estate functions globally. 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. The estimated total pay for a Director at RBC is $360,228 per year. 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. 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. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. "Not only did we do a safari, but we spent four days with Marc and Craig Kielburger and Free The Children," Jennifer . Unauthorized distribution, transmission or republication strictly prohibited. Management resources and compensation committee. From June 2004 to September 2018, the parents allowed WE Charity to use 233 Carlton rent-free. She most recently acted as chief administrative officer for the bank. 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 . As RBCs Chief Administrative Officer Jennifer Tory has responsibility for Brand, Marketing, Citizenship, Communications, Procurement and Real Estate functions globally. If you don't see it, please check your junk folder. The average RBC hourly pay ranges from approximately $18 per hour for a Client Service Representative to $38 per hour for a Business Analyst. 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. 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. 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. A major supporter of WE, she called the experience in Kenya her favourite vacation in a 2012 video for RBC, where she is the banks chief administrative officer. I am very excited about this opportunity and look forward to leading an exceptional management team and employees dedicated to bringing the best of RBC to our clients, said Ms. Tory, currently Regional President, Canadian Banking, Greater Toronto Region. 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. For more information, please visit rbc.com. 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. Associate salaries - 271 salaries reported. What correction? Her passion for employees, clients, and community set her apart, noted Mr. McKay. 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. 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. About RBC > Media Newsroom > News Releases >RBC names Jennifer Tory as Group Head, Personal & Commercial Banking. A request for the bank to disclose the equity ratio used by the compensation committee in its compensation-setting process. For 2016, the CEO's salary was raised to $1.5-million, a 15-per-cent increase. Wittington also controls Selfridges Group Ltd., which owns the upscale department store Holt Renfrew (Canada). The building is owned by 1622774 Ontario Ltd., which lists Fred and Theresa Kielburger as administrators. 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. She will hold office as a Trustee until the next annual meeting of unitholders or until her successor is elected or appointed. Board Memberships & Affiliations. rights reserved. Newcom Media Inc. We use cookies to make your website experience better. Republication or distribution of this content is July 29, 2020 17:01 ET 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 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 Registered Client Associate salaries - 49 salaries reported. He was accompanied in Kenya by his sister, Jennifer Tory. 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.. 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. 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. If you do not yet have a Torstar account, you can create one now (it is free), Copyright owned or licensed by Toronto Star Newspapers Limited. 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 . 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. 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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. 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.. Ms. Kristyn Wong-Tam, the councillor for the area, says she was also not informed in advance. 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. 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. After more than a decade of leadership positions within the company, Pavi Binning has decided to retire from his role effective Jan. 1, 2022, Wittington said in an emailed statement Tuesday. Manager salaries - 239 salaries reported. document.write(CurrentYear) Regional President, Greater Toronto Region, RBC 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. Ms. Tory has been with RBC for over 35 years, holding progressively senior roles including sales leadership, strategy, operations and human resources. All Ive worked with Jennifer for many years. 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 estimated additional pay is $183,202 per year. Further, Guzman accelerated acquisition of new clients through launch of Premier Banking, increasing high-net-worth households, with 25% growth year-over-year..
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