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. Queen's University. That involvement ceased when he became Mayor, though he has, as Mayor, attended a number of events directly or indirectly related to those charitable and community endeavours, Peat says. Allied Properties REIT RBC. 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. expressly prohibited without the prior written consent of Toronto 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. Jennifer Tory was named 1 of Canada's most powerful women during her long career at @RBC where she retired as Chief Administrative Officer. Thus far, McKay has the second-highest CEO compensation, and TD's CEO has the highest. His signature is on the articles of incorporation for 7619804 Canada Corporation, and he signed off on its most recent annual return. The most she received in one year was C$4.96 million for 2014. Top image: a September 2019 Google Street View photo of 233 and 231 Carlton Street. The client was not given the opportunity to put restrictions on the content or review it prior to publication. Graduated. 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]. Wrights new job was disclosed Tuesday in an annual regulatory filing by BCE Inc., which has nominated the lawyer to its board of directors. 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. What correction? 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. All 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. 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. 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. Registered Client Associate salaries - 49 salaries reported. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. 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. presentation-ready copies of Toronto Star content for distribution 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. 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. 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. Visit our Community Guidelines for more information and details on how to adjust your email settings. 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. Free Tools . 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. 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. Jennifer Tory retired in 2019 as Royal Bank of Canada's Chief Administrative Officer. The City said renovations have not started yet. Some information may no longer be current. The average RBC salary ranges from approximately $37,000 per year for Client Advisor to $200,000 per year for Business Manager. 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. The estimated base pay is $177,025 per year. 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. Further, Guzman accelerated acquisition of new clients through launch of Premier Banking, increasing high-net-worth households, with 25% growth year-over-year.. 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. This city might have the strongest housing market in Canada, BMO gets green light to buy Bank of the West in biggest deal ever for Canadian bank, A mental health crisis in Canada is fuelling billions in losses for employers, tap here to see other videos from our team. His pension, perks and other compensation totalled approximately $1 million, bringing his total compensation to $14.5 million for fiscal 2018. This article was published more than 6 years ago. All rights reserved. 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. Toronto-Dominion Bank and Bank of Nova Scotia have already released their proxy circulars. The building is owned by 1622774 Ontario Ltd., which lists Fred and Theresa Kielburger as administrators. Jennifer Tory has served as national co-chair of WE Day, and a now-deleted page on WEs website listed her as a Founding Family Champion. RBC is one of WE Charitys Founding Partners, but on Thursday The Globe and Mail reported that the bank is now reconsidering its relationship. Jennifer Tory retired after a four-decade career at RBC in 2019. Unauthorized distribution, transmission or republication strictly prohibited. A partner from the prominent corporate law firm Torys LLP is poised to take over as president of the holding company that controls Loblaw owner George Weston Ltd. Cornell Wright is set to become executive vice-president at Wittington Investments, Ltd. on May 1 and will take over as president by the end of the year. The next issue of Financial Post Top Stories will soon be in your inbox. He was accompanied in Kenya by his sister, Jennifer Tory. 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. 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. 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. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Mayor John Tory, whose office says he was not involved in the lease, has a relationship with the WE co-founders. Women also populate the CEO level and senior ranks at the countrys credit unions, including Vancouver City Savings Credit Union, headed by Tamara Vrooman. 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. Have a question? 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, 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. These positions allow her to significantly influence and impact the banks diversity agenda, plans, and goals. 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. 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. Have a question? If you don't see it, please check your junk folder. Ms. 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. Her responsibilities will include retail banking operations and certain retail . The lease started on January 1. 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. Client Associate salaries - 39 salaries reported. We ask you to keep your comments relevant and respectful. 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. We apologize, but this video has failed to load. From June 2004 to September 2018, the parents allowed WE Charity to use 233 Carlton rent-free. Board Member. 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 . 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.. 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. Five of the 12 board nominees this year are women, or 42%. Ms. Tory, who currently serves as regional president for Toronto of the Canadian banking operation, moves into her new job in April. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Associate Director salaries - 45 salaries reported. Woodbridge is the holding company for Canadas wealthiest family, the Thomsons. She discusses the Jennifer Tory is a most welcome addition to our Board, said Gordon Cunningham, Chair of Trustees. The board attributes this to, among other things, RBC maintaining its number-one market share in Canadian mutual fund assets under management and the success of the firms continued U.S. expansion. Ms. Tory participated in the development of RBCs Diversity Blueprint, a strategic outline of the banks diversity priorities and objectives. 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. 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. This advertisement has not loaded yet, but your article continues below. A search late last week showed just three properties in their names, estimated at a quarter of that. 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. 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. She noted that both Tory and Wright are seasoned executives committed to supporting all the stakeholders that BCE serves, and will offer valuable guidance as we build Bells leadership in environmental, social and governance standards.. $159,715 / yr. FP Answers aims to find the information you need, RBC's Janice Fukakusa sets pay benchmark for Canada's female bankers, Get ready for another rate hike: What economists are saying about the inflation numbers, 4 ways the wealthy can make a dent in a large tax bill, Posthaste: Correction? The board noted that Guzman held RBCs position as Canadas largest retail fund company and largest full-service wealth advisory business. Fukakusa, 62, was one of a handful of veteran women executives in Canadian banking that have kept pace with their male counterparts. Next door sits 231 Carlton, currently owned by 7619804 Canada Corporation, also registered to Fred and Theresa Kielburger. Peat says Tory fully paid the costs for the trip. personal and corporate concierge company, How a scarcity mindset leads to infighting between marginalized groups. The next issue of Financial Post Top Stories will soon be in your inbox. RBC had the highest market cap of the Big Five banks for the period. At the time, he was leader of the Progressive Conservative Party of Ontario. Allied Properties REIT. 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. 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. 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. Thus far, McKay has the second-highest CEO compensation, and TDs CEO has the highest. 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. A few weeks before the City leased 233 Carlton, Council agreed to acquire a nearby building, 218 Carlton, for use as affordable housing. 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. Every day, get the financial news that matters in your inbox. This section was produced by the editorial department. 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.. 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. Tory, 58, is currently RBC's regional president of Canadian banking for the Greater Toronto region. There is no lack of energy, effort and discussion happening.. 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. 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. To order copies of Please try again. 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