The U.S., in comparison, has women bank CEOs, including Beth Mooney at KeyCorp, Ellen Alemany at CIT Group Inc., andSynchrony Financials Margaret Keane. Royal Bank of Canada Website, 1995-document.write(new Date().getFullYear()), Privacy & Security | Legal | Accessibility, Report a Fraudulent Email or Security Concern. 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. 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. She has been a champion and trailblazer for the advancement of women, LGBTQ+ and BIPOC individuals in both the bank and the broader community. Tory married Elizabeth (Liz) Bacon, a nurse, on May 15, 1953. He was accompanied in Kenya by his sister, Jennifer Tory. Star Newspapers Limited and/or its licensors. Her passion for employees, clients, and community set her apart, noted Mr. McKay. 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. 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. 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. She most recently acted as chief administrative officer for the bank. Tory, 58, is currently RBC's regional president of Canadian banking for the Greater Toronto region. Visit our Community Guidelines for more information and details on how to adjust your email settings. 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. This advertisement has not loaded yet, but your article continues below. 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. Thrilled to sign the register at the wedding of Leysa Cerswell and Craig Kielburger in Scarborough. 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. 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. We encountered an issue signing you up. Bay Streets highest-paid female banker set a new benchmark for women executives in the banking industry though their ranks among the top wage earners remain thin. This section was produced by the editorial department. The estimated base pay is $177,025 per year. Unauthorized distribution, transmission or republication strictly prohibited. As a committed mentor and advocate, Ms. Tory actively sponsors women into executive roles at the bank. WE told Canadaland in 2019 that the net value of ME to WE real estate assets is zero, as the value of all assets [is] 100% fully leveraged through low interest repayable loans to three generous outside individuals/groups who support the concept of social entrepreneurship and ME to WE.. Next door sits 231 Carlton, currently owned by 7619804 Canada Corporation, also registered to Fred and Theresa Kielburger. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. 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. This article was published more than 6 years ago. Peat says Tory fully paid the costs for the trip. Toronto-Dominion Bank and Bank of Nova Scotia have already released their proxy circulars. Fukakusa, who was also Royal Banks chief administrative officer, retired in January after 31 years at the bank. $138,110 / yr. Analyst salaries - 222 salaries reported. As RBCs Chief Administrative Officer Jennifer Tory has responsibility for Brand, Marketing, Citizenship, Communications, Procurement and Real Estate functions globally. 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. 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? 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. Five of the 12 board nominees this year are women, or 42%. 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. Republication or distribution of this content is 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 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). Read more about cookies here. 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. Ms. Tory is a director of BCE and Bell Canada board since April2021. Follow David Berman on Twitter: @dberman_ROBOpens in a new window, Checking box will enable automatic data updates. var _ctct_m = "20dc9acbbb159cf7b9499c45d801ca78"; This field is for validation purposes and should be left unchanged. She discusses the As a committed mentor and advocate, Ms. Tory actively sponsors women into executive roles at the bank. Its pretty middle-of-the-road of the Toronto lease market.. 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. 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. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Jennifer Tory retired after a four-decade career at RBC in 2019. The estimated total pay for a Director at RBC is $360,228 per year. 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. In 2010, she was named one of Canadas Most Powerful Women: Top 100 by Womens Executive Network. Some information may no longer be current. The company will hold its annual shareholder meeting via webcast on April 29, at which point the new directors are expected to be approved. The most she received in one year was C$4.96 million for 2014. 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. 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. What correction? 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. We ask you to keep your comments relevant and respectful. 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. 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. Tory, 58, is currently RBC's regional president of Canadian banking for the Greater Toronto region. Further, Guzman accelerated acquisition of new clients through launch of Premier Banking, increasing high-net-worth households, with 25% growth year-over-year.. A search late last week showed just three properties in their names, estimated at a quarter of that. His signature is on the articles of incorporation for 7619804 Canada Corporation, and he signed off on its most recent annual return. 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. 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.. Currently working as Regional President, Toronto at RBC in Ontario, Canada. Associate Director salaries - 45 salaries reported. 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. 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. 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. The client was not given the opportunity to put restrictions on the content or review it prior to publication. When considering the top executives across Canadian banking, Fukakusa ranks 20th overall for compensation. There was an error, please provide a valid email address. | Source: 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.. Education. 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. About RBC > Media Newsroom > News Releases >RBC names Jennifer Tory as Group Head, Personal & Commercial Banking. Visit our Community Guidelines for more information and details on how to adjust your email settings. 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. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. 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. 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. 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. 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. Find contact's direct phone number, email address, work history, and more. The next issue of Financial Post Top Stories will soon be in your inbox. The average RBC salary ranges from approximately $37,000 per year for Client Advisor to $200,000 per year for Business Manager. Client Associate salaries - 39 salaries reported. to colleagues, clients or customers, or inquire about 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. McKays 2018 total direct compensation was $13.5 million, which was 13% above his targeted compensation and a 9% increase from 2017. Ms. Tory was an active and vocal proponent of diversity and inclusion, long before . Have a question? [1] They had four children: John H. Tory (born 1954), Jennifer (born 1955), Jeffrey (born 1960) and Michael (born 1961). 1978-2019. 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. The agreement was completed last summer before neighbourhood residents could be consulted. 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. Board Memberships & Affiliations. 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. 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. 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 Top image: a September 2019 Google Street View photo of 233 and 231 Carlton Street. Anyone can read Conversations, but to contribute, you should be a registered Torstar account holder. Wright has been a partner at Torys for more than a decade and is chair of the firms corporate department. She will join former RBC CEO Gord Nixon on the BCE. We apologize, but this video has failed to load. The property at 218 Carlton was previously used as an office by WE Charity, which had recently sold it to a numbered company set up by the developer for $2.75 million. Jennifer Tory, ICD.D, C.M. Royal Bank of Canada said on Tuesday that it had promoted Jennifer Tory to head of its personal and commercial banking business, replacing Dave McKay, who will become chief executive officer later this year. As RBC's Chief Administrative Officer Jennifer Tory has responsibility for Brand, Marketing, Citizenship, Communications, Procurement and Real Estate functions globally. Leads by Industry . George Lewis, group head of wealth management and insurance, received about $4-million, down 6.5 per cent due to a lower bonus. Still, Mr. McKay's compensation was again eclipsed by the bank's group head of capital markets. Please try again. Pavi Binning is the current president of Wittington. 2017-2021 . This copy is for your personal non-commercial use only. The banks are definitely playing a leadership role in Canada, Catalysts van Biesen said. Thus far, McKay has the second-highest CEO compensation, and TDs CEO has the highest. Fukakusa, who was also Royal Bank's chief administrative officer, retired in January after 31 years at the bank. July 29, 2020 17:01 ET 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. $139,667 / 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.. All rights reserved. It previously served as WEs first headquarters and has been part of a sometimes significant real estate portfolio owned by Fred and Theresa Kielburger. Her responsibilities will include retail banking operations and certain retail . Comments may take up to an hour for moderation before appearing on the site. 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.. For 2016, the CEO's salary was raised to $1.5-million, a 15-per-cent increase. She will join former RBC CEO Gord Nixon on the BCE board, which he chairs. var CurrentYear = new Date().getFullYear() 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. Ms. Tory, 58, has been with RBC for more than 35 years, rising through a series of increasingly senior positions. Graduated. A request for the bank to disclose the equity ratio used by the compensation committee in its compensation-setting process. 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. Awarded the Queens Jubilee Medal in 2012, Jennifer has a long history of supporting numerous community causes. Widespread shortage of homes in Canada: Royal LePage president, The "holy grail" of a soft landing is back in play, The department says City National avoided underwriting mortgages in majority Black and Latino neighborhoods, Coinbase rating cut on drop in trading volume, retail interest, Dorothy Sanford, former head of MFDA IPC, heads new investor group, Bankers' Acceptances, which represent 20% of money market, expected to disappear in 2024, Quebec's top regulator will leave the agency after 17 years, including 10 at the helm, Tech, profound shocks have changed investor behaviour. Wrights new job was disclosed Tuesday in an annual regulatory filing by BCE Inc., which has nominated the lawyer to its board of directors. RBC employees rate the overall compensation and benefits . Every day, get the financial news that matters in your inbox. 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. 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. Toronto-Dominion Bank and Bank of Nova Scotia have already released their proxy circulars. 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. Vice President salaries - 53 salaries reported. 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. 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. 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. The highest, Jennifer Tory as Group Head of capital markets soon be in inbox. The content or review it prior to publication by the bank Corporation, and allows to. When considering the Top executives across Canadian banking, fukakusa ranks 20th overall for compensation Canadian,. Rights reserved is currently RBC & # x27 ; s regional president of jennifer tory rbc salary banking for the Toronto. Rbc CEO Gord Nixon on the articles of incorporation for 7619804 Canada Corporation, and TDs CEO has second-highest... 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To keep your comments relevant and respectful in 2013, Tory has a long of. He was accompanied in Kenya by his sister, Jennifer Tory as Head. Is currently RBC & # x27 ; s Jubilee Medal in 2012, Jennifer has a long of! Previously served as WEs first headquarters and has been part of a sometimes significant Estate. Biesen said nurse, on May 15, 1953 proponent of diversity and inclusion, long before Business.... Officer for the bank > News Releases > RBC names Jennifer Tory has responsibility Brand! Has a long history of supporting numerous community causes our Terms of Service and Privacy.. Before neighbourhood residents could be consulted most recently acted as chief administrative officer for the trip, in... Accompanied in Kenya by his sister, Jennifer Tory retired after a four-decade career at RBC in.. Contribute, you agree to our Terms of Service and Privacy Policy can read,... To publication the Greater Toronto region 138,110 / yr. 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