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. 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 . 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. Find Jennifer Tory's accurate email address and contact/phone number in Adapt.io. 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. Every day, get the financial news that matters in your inbox. Management resources and compensation committee. 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. 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. George Lewis, group head of wealth management and insurance, received about $4-million, down 6.5 per cent due to a lower bonus. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Investor contact: The company will hold its annual shareholder meeting via webcast on April 29, at which point the new directors are expected to be approved. 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. presentation-ready copies of Toronto Star content for distribution 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.. Have a question? 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 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. Ms. Tory is a director of BCE and Bell Canada board since April2021. 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. Still, there are no female chief executive officers among Canadas largest banks, extending an industry shutout that stretches back two centuries. 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. 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. Salary information comes from 1,524 data points collected directly from employees, users, and past and present . 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. 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. Comments may take up to an hour for moderation before appearing on the site. 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. Unauthorized distribution, transmission or republication strictly prohibited. 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. The City said renovations have not started yet. RBC is facing two shareholder proposals this year, both of which the bank advises voting against. Woodbridge is the holding company for Canadas wealthiest family, the Thomsons. 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. Rod Bolger, chief financial officer, made $4.4 million in total compensation in 2018, up from $3.7 million the year before. $139,667 / yr. 2017-2021 . During her career, Jennifer has held successively senior leadership roles including Senior Vice President Sales Effectiveness, Senior Vice President Operations, and Regional President, Greater Toronto Region. 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. Wrights new job was disclosed Tuesday in an annual regulatory filing by BCE Inc., which has nominated the lawyer to its board of directors. 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.". $55,284 / yr. 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. Thrilled to sign the register at the wedding of Leysa Cerswell and Craig Kielburger in Scarborough. We apologize, but this video has failed to load. 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. A representative then handled the deal on the Kielburgers behalf. She has been a champion and trailblazer for the advancement of women, LGBTQ+ and BIPOC individuals in both the bank and the broader community. A search late last week showed just three properties in their names, estimated at a quarter of that. Newcom Media Inc. We use cookies to make your website experience better. 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. 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. David MacKay got a 9% raise over 2017, thanks in part to banks top position in mutual fund assets. 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. Both WE and the Mayors Office say that Tory has never been paid to attend or speak at a WE event. When considering the top executives across Canadian banking, Fukakusa ranks 20th overall for compensation. 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. His son, John Tory, is the current Mayor of Toronto and former Progressive Conservative Party of Ontario leader. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. 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. 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. 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. Does growth in self-managed accounts defy need for advice? 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. Jennifers depth of experience in retail and commercial banking ideally positions her to take on leadership of approximately 35,000 employees who are committed to serving the needs of our clients, said current chief executive Gord Nixon. $72,093 / yr. The estimated base pay is $177,025 per year. 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.. 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 . 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. Pavi Binning is the current president of Wittington. Unauthorized distribution, transmission or republication strictly prohibited. Manager salaries - 239 salaries reported. Client Associate salaries - 39 salaries reported. Follow David Berman on Twitter: @dberman_ROBOpens in a new window, Checking box will enable automatic data updates. Average RBC hourly pay ranges from approximately $9.00 per hour for Teller to $125 per hour for Pharmacist. 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. 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. Because the properties were purchased solely to support WE Charity, I simply assisted in their incorporation.. Five of the 12 board nominees this year are women, or 42%. Still, Mr. McKay's compensation was again eclipsed by the bank's group head of capital markets. 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. Her commitment to advancing women and diversity extends beyond her role at the bank into her community. 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. 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. David mckay rbc salary - gkeb.mdfmodels.de . 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 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. 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. $60,499 / yr. If you don't see it, please check your junk folder. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. Peat says Tory fully paid the costs for the trip. Royal Bank of Canada has appointed Jennifer Tory as the new head of its retail bank, its largest and most important business. 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. All rights reserved. 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. Allied Properties REIT 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. 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. Prior to her current role, she was Senior Vice President of Operations for Canadian Banking RBC. var CurrentYear = new Date().getFullYear() 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. We ask you to keep your comments relevant and respectful. 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. Web"/> . 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. At the time, he was leader of the Progressive Conservative Party of Ontario. She most recently acted as chief administrative officer for the bank. 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. 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. Jennifer Tory retired after a four-decade career at RBC in 2019. She will take on her new job, one of the highest-profile in the sector, in April. The agreement was completed last summer before neighbourhood residents could be consulted. 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 . 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. 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. Ms. The property is currently assessed at just under $2.3 million for tax purposes. Ms. Tory participated in the development of RBCs Diversity Blueprint, a strategic outline of the banks diversity priorities and objectives. Not only did we do a safari, but we spent four days with Marc and Craig Kielburger and Free The Children, Jennifer said in the video, referring to WE Charity by its name at the time. Some information may no longer be current. 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 This advertisement has not loaded yet, but your article continues below. All 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. 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. Jennifer Tory was named 1 of Canada's most powerful women during her long career at @RBC where she retired as Chief Administrative Officer. She discusses the 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). | Source: Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. 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. 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.. RBC said Ms. Tory will be responsible for the strategy and performance of the business, which include the banks 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 accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy. Jennifer Tory, ICD.D, C.M. View Jennifer Tory's business profile as Board Member at BCE. Thus far, McKay has the second-highest CEO compensation, and TD's CEO has the highest. 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. Anyone can read Conversations, but to contribute, you should be a registered Torstar account holder. 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. The lease started on January 1. From June 2004 to September 2018, the parents allowed WE Charity to use 233 Carlton rent-free. Mayor John Tory, whose office says he was not involved in the lease, has a relationship with the WE co-founders. What correction? Star Newspapers Limited and/or its licensors. Associate Director salaries - 45 salaries reported. To order copies of Ms. Tory was an active and vocal proponent of diversity and inclusion, long before . She will join former RBC CEO Gord Nixon on the BCE board, which he chairs. Mr. McKay also led the $5-billion (U.S.) takeover of Los Angeles-based City National Corp., which closed in November amid big hopes for expansion in the United States. July 29, 2020 17:01 ET Visit our Community Guidelines for more information and details on how to adjust your email settings. 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. 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. About RBC TIFF. 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. 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. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. 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. Free Tools . 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, said Gord Nixon, President and Chief Executive Officer. 2011-2021. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. 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. That is separate from the nearly $6.1 million the City plans to spend for the 10-year lease, if it also exercises an optional five-year extension. 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. RBC announced Mr. Nixons retirement on Dec 6. to colleagues, clients or customers, or inquire about Awarded the Queen's Jubilee Medal in 2013, Tory has a long history of supporting numerous community causes. 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. To order Please try again. This advertisement has not loaded yet, but your article continues below. Wittington also controls Selfridges Group Ltd., which owns the upscale department store Holt Renfrew (Canada). 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. expressly prohibited without the prior written consent of Toronto © 2023. representative then handled the deal on the Kielburgers behalf. Karen McCarthy, Director, Investor Relations, 416-955-7809, Media contact: The board noted that Guzman held RBCs position as Canadas largest retail fund company and largest full-service wealth advisory business. var _ctct_m = "20dc9acbbb159cf7b9499c45d801ca78"; This field is for validation purposes and should be left unchanged. document.write(CurrentYear) Visit our Community Guidelines for more information and details on how to adjust your email settings. His signature is on the articles of incorporation for 7619804 Canada Corporation, and he signed off on its most recent annual return. There was an error, please provide a valid email address. Royal Banks annual general meeting will be held April 4, 2019. The banks are definitely playing a leadership role in Canada, Catalysts van Biesen said. The building is now occupied, in part, by a store that repairs laptops and sells electronics. 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. 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 client was not given the opportunity to put restrictions on the content or review it prior to publication. A request that the bank create a new technologies committee. Along with other members of Group Executive, Jennifer is responsible for setting the overall strategic direction of RBC. Women also populate the CEO level and senior ranks at the countrys credit unions, including Vancouver City Savings Credit Union, headed by Tamara Vrooman. Board Memberships & Affiliations. 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. 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? Royal Bank of Canada has appointed Jennifer Tory as the new head of its retail bank, its largest and most important business. As a committed mentor and advocate, Ms. Tory actively sponsors women into executive roles at the bank. permissions/licensing, please go to: www.TorontoStarReprints.com. 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 is a corporate director who was, until her retirement in December2019, the Chief Administrative Officer of RBC (a chartered bank), where she held responsibility for Brand, Marketing, Citizenship & Communications, Procurement and Real Estate functions globally. Awarded the Queens Jubilee Medal in 2012, Jennifer has a long history of supporting numerous community causes. RBC. 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. rights reserved. Client Advisor salaries - 258 salaries reported. The estimated total pay for a Director at RBC is $360,228 per year. About Jennifer Tory. Jennifer Tory is a most welcome addition to our Board, said Gordon Cunningham, Chair of Trustees. Ms. Tory joined RBC in 1978. 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. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. The building is owned by 1622774 Ontario Ltd., which lists Fred and Theresa Kielburger as administrators. The U.S., in comparison, has women bank CEOs, including Beth Mooney at KeyCorp, Ellen Alemany at CIT Group Inc., andSynchrony Financials Margaret Keane. 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. 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. 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.
Building The Dream Steve And Hannah Did They Finish, Nephilim Powers And Abilities, Articles J