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. She will hold office as a Trustee until the next annual meeting of unitholders or until her successor is elected or appointed. 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. 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. Read more about cookies here. 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. George Lewis, group head of wealth management and insurance, received about $4-million, down 6.5 per cent due to a lower bonus. This city might have the strongest housing market in Canada, BMO gets green light to buy Bank of the West in biggest deal ever for Canadian bank, A mental health crisis in Canada is fuelling billions in losses for employers, Janice Fukakusa, Royal Bank of Canada's former chief financial officer, was the highest paid woman among the country's eight largest lenders in fiscal 2016, bringing in C$4.67 million, Discover how Canadian businesses are embracing sustainability, Helping you build a more sustainable business, Royal Bank chief financial officer Janice Fukakusa to retire after 31 years at Canadas biggest bank, Royal Bank of Canada eyeing more expansion in U.S. after US$5-billion City National deal, tap here to see other videos from our team. Ms. Tory, who currently serves as regional president for Toronto of the Canadian banking operation, moves into her new job in April. Client Advisor salaries - 258 salaries reported. Thus far, McKay has the second-highest CEO compensation, and TD's CEO has the highest. Every day, get the financial news that matters in your inbox. She most recently acted as chief administrative officer for the bank. Additionally, she provides leadership and oversight of transformational initiatives, with a particular focus on how the enterprise works together to further RBCs success. Wright has been a partner at Torys for more than a decade and is chair of the firms corporate department. The next issue of Financial Post Top Stories will soon be in your inbox. 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. 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. Top image: a September 2019 Google Street View photo of 233 and 231 Carlton Street. 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.. Read more about cookies here. This advertisement has not loaded yet, but your article continues below. expressly prohibited without the prior written consent of Toronto She discusses the 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. 2017-2021 . Along with other members of Group Executive, Jennifer is responsible for setting the overall strategic direction of RBC. Jennifer Tory, ICD.D, C.M. Associate Director salaries - 45 salaries reported. Next door sits 231 Carlton, currently owned by 7619804 Canada Corporation, also registered to Fred and Theresa Kielburger. Allied Properties REIT Victor Li, the CFO for WE Charity and ME to WE, assisted the Kielburger parents in setting up both numbered companies. He was accompanied in Kenya by his sister, Jennifer Tory. 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. She has been a champion and trailblazer for the advancement of women, LGBTQ+ and BIPOC individuals in both the bank and the broader community. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Find Jennifer Tory's accurate email address and contact/phone number in Adapt.io. 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. All rights reserved. Tory married Elizabeth (Liz) Bacon, a nurse, on May 15, 1953. 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. 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. 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. 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. Its pretty middle-of-the-road of the Toronto lease market.. 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. Her commitment to advancing women and diversity extends beyond her role at the bank into her community. Woodbridge is the holding company for Canadas wealthiest family, the Thomsons. 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. Tory, 58, is currently RBC's regional president of Canadian banking for the Greater Toronto region. Ms. Tory has been with RBC for over 35 years, holding progressively senior roles including sales leadership, strategy, operations and human resources. Because the total value of the contract was less than $10 million, the decision was delegated to City staff and did not go to City Council for approval [pdf]. 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. We employ approximately 79,000 full- and part-time employees who serve more than 15 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 44 other countries. Ms. To order copies of 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 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. Rod Bolger, chief financial officer, made $4.4 million in total compensation in 2018, up from $3.7 million the year before. Currently working as Regional President, Toronto at RBC in Ontario, Canada. Manager salaries - 239 salaries reported. 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. Jennifer Tory is a most welcome addition to our Board, said Gordon Cunningham, Chair of Trustees. Jennifer Tory retired after a four-decade career at RBC in 2019. 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. 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. Ms. Tory will move into the position left vacant by Dave McKay, who takes over as RBCs chief executive effective Feb 26, the same day as the banks annual meeting in Toronto. David MacKay got a 9% raise over 2017, thanks in part to banks top position in mutual fund assets. 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. Further, Guzman accelerated acquisition of new clients through launch of Premier Banking, increasing high-net-worth households, with 25% growth year-over-year.. She will take on her new job, one of the highest-profile in the sector, in April. Board Memberships & Affiliations. 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.. 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.. Because the properties were purchased solely to support WE Charity, I simply assisted in their incorporation.. 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. What correction? She will join former RBC CEO Gord Nixon on the BCE board, which he chairs. Prior to this role, she was Group Head, Personal & Commercial Banking, leading RBCs retail and commercial customer businesses and operations in Canada and the Caribbean from2014-2017. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. "Not only did we do a safari, but we spent four days with Marc and Craig Kielburger and Free The Children," Jennifer . Ms. Tory is a director of BCE and Bell Canada board since April2021. $139,667 / yr. Registered Client Associate salaries - 49 salaries reported. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Douglas McGregor received nearly $11.3-million in 2015, though that was down 15 per cent from 2014. Wittington also controls Selfridges Group Ltd., which owns the upscale department store Holt Renfrew (Canada). 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. 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. In particular, she assisted in the development of the components related to women, visible minorities, and newcomers to Canada. A representative then handled the deal on the Kielburgers behalf. Salary information comes from 1,524 data points collected directly from employees, users, and past and present . The estimated additional pay is $183,202 per year. Additionally, she provides leadership and oversight of transformational initiatives, with a particular focus on how the enterprise works together to further RBC's success. From August 2010 to September 2018, WE used the building rent-free, which WE says represented $702,900 in foregone rental income. 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. We encountered an issue signing you up. 2011-2021. presentation-ready copies of Toronto Star content for distribution 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. | Source: View Jennifer Tory's business profile as Board Member at BCE. We apologize, but this video has failed to load. "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. 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. Please try again. Comments may take up to an hour for moderation before appearing on the site. 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. 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. HSBC Holdings Plcs Canadian unit is led by Sandra Stuart, 53. $38,804 / yr. 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. 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. His signature is on the articles of incorporation for 7619804 Canada Corporation, and he signed off on its most recent annual return. Client Associate salaries - 39 salaries reported. There was an error, please provide a valid email address. 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. RBC is facing two shareholder proposals this year, both of which the bank advises voting against. RBC announced Mr. Nixons retirement on Dec 6. Wojtek Dabrowski, Director, P&CB Communications, 416-974-3718, Royal Bank of Canada Website, 1995-document.write(new Date().getFullYear()), Privacy & Security | Legal | Accessibility, RBC names Jennifer Tory as Group Head, Personal & Commercial Banking. TIFF. 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. Still, there are no female chief executive officers among Canadas largest banks, extending an industry shutout that stretches back two centuries. About Jennifer Tory. Janice Fukakusa, RBC's chief financial officer, received total compensation of about $5-million in 2015, up 1 per cent from 2014. 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.. For 2016, the CEO's salary was raised to $1.5-million, a 15-per-cent increase. $55,284 / yr. 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. If you don't see it, please check your junk folder. 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. Jennifer Tory retired in 2019 as Royal Bank of Canada's Chief Administrative Officer. 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. We encountered an issue signing you up. For more information, please visit rbc.com. Jennifer Tory retired after a four-decade career at RBC in 2019. A request for the bank to disclose the equity ratio used by the compensation committee in its compensation-setting process. 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 Some information may no longer be current. RBC. The estimated total pay for a Director at RBC is $360,228 per year. Fukakusa, 62, was one of a handful of veteran women executives in Canadian banking that have kept pace with their male counterparts. Fukakusa, who was also Royal Banks chief administrative officer, retired in January after 31 years at the bank. The U.S., in comparison, has women bank CEOs, including Beth Mooney at KeyCorp, Ellen Alemany at CIT Group Inc., andSynchrony Financials Margaret Keane. Allied Properties REIT. Leads by Industry . 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. Tory is a member of RBCs Diversity Leadership Council (DLC) and is Chair of the Canadian Banking business units DLC. The most she received in one year was C$4.96 million for 2014. Web"/> . A few weeks before the City leased 233 Carlton, Council agreed to acquire a nearby building, 218 Carlton, for use as affordable housing. Newspapers Limited, 8 Spadina Avenue, 10th Floor, Toronto, ON M5V 0S8, put its Weston Foods bakery business up for sale. Kristyn Wong-Tam, the councillor for the area, says she was also not informed in advance. July 29, 2020 17:01 ET This copy is for your personal non-commercial use only. 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. 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. personal and corporate concierge company, How a scarcity mindset leads to infighting between marginalized groups. Newcom Media Inc. We use cookies to make your website experience better. The building is owned by 1622774 Ontario Ltd., which lists Fred and Theresa Kielburger as administrators. There was an error, please provide a valid email address. 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. Visit our Community Guidelines for more information and details on how to adjust your email settings. 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