Ms. 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. 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. The City of Toronto is expected to spend up to almost $10 million over 15 years to lease and renovate a property owned by the parents of Craig and Marc Kielburger, the co-founders of the WE organization. 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. 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. Karen McCarthy, Director, Investor Relations, 416-955-7809, Media contact: 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. Follow David Berman on Twitter: @dberman_ROBOpens in a new window, Checking box will enable automatic data updates. Its pretty middle-of-the-road of the Toronto lease market.. Royal Bank of Canada has appointed Jennifer Tory as the new head of its retail bank, its largest and most important business. 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. 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. The estimated base pay is $177,025 per year. 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. The average RBC hourly pay ranges from approximately $18 per hour for a Client Service Representative to $38 per hour for a Business Analyst. Ms. Tory has been instrumental in the advancement of women and other diverse groups at RBC - where diversity is a long-standing core value. 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. presentation-ready copies of Toronto Star content for distribution "Not only did we do a safari, but we spent four days with Marc and Craig Kielburger and Free The Children," Jennifer . We ask you to keep your comments relevant and respectful. 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. Fukakusa, who was also Royal Bank's chief administrative officer, retired in January after 31 years at the bank. personal and corporate concierge company, How a scarcity mindset leads to infighting between marginalized groups. 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. The building is now occupied, in part, by a store that repairs laptops and sells electronics. The client was not given the opportunity to put restrictions on the content or review it prior to publication. 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? 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. Dave McKay, who became CEO in August 2014, received a salary of $1.3-million, along with a bonus of about $2.3-million and stock options valued at about $7.3-million. Prior to her current role, she was Senior Vice President of Operations for Canadian Banking RBC. 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. | Source: Currently working as Regional President, Toronto at RBC in Ontario, Canada. We apologize, but this video has failed to load. Newspapers Limited, 8 Spadina Avenue, 10th Floor, Toronto, ON M5V 0S8, put its Weston Foods bakery business up for sale. About Jennifer Tory. View the executive profile of Jennifer Tory, Chief Administrative Officer at Royal Bank of Canada, on Equilar ExecAtlas to see current and past work history and gain access to Jennifer Tory's network of 42 business contacts. A request that the bank create a new technologies committee. 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.. David MacKay got a 9% raise over 2017, thanks in part to banks top position in mutual fund assets. The U.S., in comparison, has women bank CEOs, including Beth Mooney at KeyCorp, Ellen Alemany at CIT Group Inc., andSynchrony Financials Margaret Keane. var CurrentYear = new Date().getFullYear() 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. pic.twitter.com/l4xHoPe29R. Janice Fukakusa, RBC's chief financial officer, received total compensation of about $5-million in 2015, up 1 per cent from 2014. 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. $38,804 / yr. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. Comments may take up to an hour for moderation before appearing on the site. 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. 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.". The lease started on January 1. Ms. Tory, 58, has been with RBC for more than 35 years, rising through a series of increasingly senior positions. There was an error, please provide a valid email address. 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. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. var _ctct_m = "20dc9acbbb159cf7b9499c45d801ca78"; This field is for validation purposes and should be left unchanged. rights reserved. His pension, perks and other compensation totalled approximately $1 million, bringing his total compensation to $14.5 million for fiscal 2018. 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. Web"/> . 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. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. Board Member. 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. 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. 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. According to a signed statement WE provided from a Sothebys realtor last year, that represented an in-kind value of nearly $4.7 million. $72,093 / yr. As RBCs Chief Administrative Officer Jennifer Tory has responsibility for Brand, Marketing, Citizenship, Communications, Procurement and Real Estate functions globally. This advertisement has not loaded yet, but your article continues below. Wrights new job was disclosed Tuesday in an annual regulatory filing by BCE Inc., which has nominated the lawyer to its board of directors. 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. 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. Does growth in self-managed accounts defy need for advice? Ms. Tory is a director of BCE and Bell Canada board since April2021. The building is owned by 1622774 Ontario Ltd., which lists Fred and Theresa Kielburger as administrators. Management resources and compensation committee. 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.. Her passion for employees, clients, and community set her apart, noted Mr. McKay. 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. These positions allow her to significantly influence and impact the banks diversity agenda, plans, and goals. Peat says Tory fully paid the costs for the trip. 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. Education. 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. $84,613 / yr. Director salaries - 231 salaries reported. Still, Mr. McKay's compensation was again eclipsed by the bank's group head of capital markets. 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. 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.. 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. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. 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. $159,715 / yr. Jennifer Tory is a most welcome addition to our Board, said Gordon Cunningham, Chair of Trustees. Ms. Tory participated in the development of RBCs Diversity Blueprint, a strategic outline of the banks diversity priorities and objectives. Salary information comes from 1,524 data points collected directly from employees, users, and past and present . This section was produced by the editorial department. A search late last week showed just three properties in their names, estimated at a quarter of that. The board noted that Guzman held RBCs position as Canadas largest retail fund company and largest full-service wealth advisory business. 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. 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. Tory, 58, is currently RBC's regional president of Canadian banking for the Greater Toronto region. Manager salaries - 239 salaries reported. Board Member. He was accompanied in Kenya by his sister, Jennifer Tory. Allieds business is providing knowledge-based organizations with distinctive urban environments for creativity and connectivity. 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. 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. Cinematheque Ontario. 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. 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 has appointed Jennifer Tory as the new head of its retail bank, its largest and most important business. Average RBC hourly pay ranges from approximately $9.00 per hour for Teller to $125 per hour for Pharmacist. 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. Five of the 12 board nominees this year are women, or 42%. 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. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Pavi Binning is the current president of Wittington. 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. 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. A request for the bank to disclose the equity ratio used by the compensation committee in its compensation-setting process. Client Advisor salaries - 258 salaries reported. Some information may no longer be current. George Lewis, group head of wealth management and insurance, received about $4-million, down 6.5 per cent due to a lower bonus. 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. 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. TIFF. If you don't see it, please check your junk folder. RBC employees rate the overall compensation and benefits . Unauthorized distribution, transmission or republication strictly prohibited. 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. At the time, he was leader of the Progressive Conservative Party of Ontario. 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. Awarded the Queens Jubilee Medal in 2012, Jennifer 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. 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.. 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. To order copies of Jennifer Tory retired after a four-decade career at RBC in 2019. 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. She has been a champion and trailblazer for the advancement of women, LGBTQ+ and BIPOC individuals in both the bank and the broader community. 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. 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. 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. We encountered an issue signing you up. July 29, 2020 17:01 ET 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 . Free Tools . 1978-2019. Fukakusa, who was also Royal Banks chief administrative officer, retired in January after 31 years at the bank. permissions/licensing, please go to: www.TorontoStarReprints.com. 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. Women also populate the CEO level and senior ranks at the countrys credit unions, including Vancouver City Savings Credit Union, headed by Tamara Vrooman. © 2023. representative then handled the deal on the Kielburgers behalf. Both WE and the Mayors Office say that Tory has never been paid to attend or speak at a WE event. 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. 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 signature is on the articles of incorporation for 7619804 Canada Corporation, and he signed off on its most recent annual return. 2017-2021 . RBC is facing two shareholder proposals this year, both of which the bank advises voting against. 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. She will take on her new job, one of the highest-profile in the sector, in April. His son, John Tory, is the current Mayor of Toronto and former Progressive Conservative Party of Ontario leader. For more information, please visit rbc.com. 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. The most she received in one year was C$4.96 million for 2014. RBC had the highest market cap of the Big Five banks for the period. "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 . 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 RBCs banking businesses in Canada and the Caribbean from April 2014 until May 2017. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy. 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. expressly prohibited without the prior written consent of Toronto This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. 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. 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.. Ive worked with Jennifer for many years. Thrilled to sign the register at the wedding of Leysa Cerswell and Craig Kielburger in Scarborough. Woodbridge is the holding company for Canadas wealthiest family, the Thomsons. Ms. Tory completed her ICD.D designation through the Institute of Corporate Directors at the Rotman School of Management. 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. 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 . Ms. Tory is a member of RBCs Diversity Leadership Council (DLC) and is Chair of the Canadian Banking business units DLC. 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. We ask you to keep your comments relevant and respectful. 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. 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. 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. There is no lack of energy, effort and discussion happening.. About RBC > Media Newsroom > News Releases >RBC names Jennifer Tory as Group Head, Personal & Commercial Banking. Find Jennifer Tory's accurate email address and contact/phone number in Adapt.io. 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. 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. 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. 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. The company will hold its annual shareholder meeting via webcast on April 29, at which point the new directors are expected to be approved. A representative then handled the deal on the Kielburgers behalf. Read more about cookies here. 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. 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. Queen's University. The next issue of Financial Post Top Stories will soon be in your inbox. Her commitment to advancing women and diversity extends beyond her role at the bank into her community. However, in 2008, Tory took a trip to Kenya with his extended family, and spent several days with Marc and Craig there. The next issue of Financial Post Top Stories will soon be in your inbox. 2011-2021. Leads by Industry . "The acquisition of City National Corp., a premier private and commercial bank serving high net worth individuals and commercial clients across a number of major metropolitan areas in the U.S., our second home market, complements our existing capital markets and wealth management presence, and will create a powerful expansion platform for long-term growth in the U.S., consistent with our strategy," RBC's human resources committee said in its proxy circular. Of RBCs diversity Blueprint, a strategic outline of the Big five banks for the Toronto... Committee in its compensation-setting process and Bell Canada board since April2021 the bank advises voting.! These positions allow her to significantly influence and impact the banks diversity priorities objectives... After a four-decade career at RBC in 2019, Jennifer has a relationship with WE. Window, Checking box will enable automatic data updates and allows us to analyze our traffic to! 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