A request for the bank to disclose the equity ratio used by the compensation committee in its compensation-setting process. Wittington also controls Selfridges Group Ltd., which owns the upscale department store Holt Renfrew (Canada). 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. The most she received in one year was C$4.96 million for 2014. 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. 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. Douglas Guzman, group head of RBC Wealth Management and RBC Insurance, made $7.5 million in total compensation for fiscal 2018, up slightly from $7.4 million in 2017. 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. 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 estimated total pay for a Director at RBC is $360,228 per year. TIFF. 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. . View Jennifer Tory's business profile as Board Member at BCE. Victor Li, the CFO for WE Charity and ME to WE, assisted the Kielburger parents in setting up both numbered companies. Have a question? The building is owned by 1622774 Ontario Ltd., which lists Fred and Theresa Kielburger as administrators. $139,667 / yr. 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. As RBC's Chief Administrative Officer Jennifer Tory has responsibility for Brand, Marketing, Citizenship, Communications, Procurement and Real Estate functions globally. The next issue of Financial Post Top Stories will soon be in your inbox. 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. 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. What correction? This article was published more than 6 years ago. Royal Bank of Canada Website, 1995-document.write(new Date().getFullYear()), Privacy & Security | Legal | Accessibility, Report a Fraudulent Email or Security Concern. All rights reserved. Jennifer Tory retired after a four-decade career at RBC in 2019. Royal Bank of Canada has appointed Jennifer Tory as the new head of its retail bank, its largest and most important business. Unauthorized distribution, transmission or republication strictly prohibited. This advertisement has not loaded yet, but your article continues below. In 2010, she was named one of Canadas Most Powerful Women: Top 100 by Womens Executive Network. 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.. George Lewis, group head of wealth management and insurance, received about $4-million, down 6.5 per cent due to a lower bonus. 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. Read more about cookies here. Shareholders also withdrew four shareholder proposals: three related to environmental issues and one related to workforce metrics. These positions allow her to significantly influence and impact the banks diversity agenda, plans, and goals. 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. 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. Her commitment to advancing women and diversity extends beyond her role at the bank into her community. 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. As RBCs Chief Administrative Officer Jennifer Tory has responsibility for Brand, Marketing, Citizenship, Communications, Procurement and Real Estate functions globally. A few weeks before the City leased 233 Carlton, Council agreed to acquire a nearby building, 218 Carlton, for use as affordable housing. Associate Director salaries - 45 salaries reported. To order 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.. Ms. RBC. 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. 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. However, in 2008, Tory took a trip to Kenya with his extended family, and spent several days with Marc and Craig there. Ms. Jennifer Tory retired in 2019 as Royal Bank of Canada's Chief Administrative Officer. 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. Mayor John Tory, whose office says he was not involved in the lease, has a relationship with the WE co-founders. If you don't see it, please check your junk folder. Ms. Tory, who currently serves as regional president for Toronto of the Canadian banking operation, moves into her new job in April. Every day, get the financial news that matters in your inbox. document.write(CurrentYear) 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. Please try again. expressly prohibited without the prior written consent of Toronto 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. Ive worked with Jennifer for many years. 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. 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. 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.. Five of the 12 board nominees this year are women, or 42%. Jennifer Tory is a most welcome addition to our Board, said Gordon Cunningham, Chair of Trustees. Anyone can read Conversations, but to contribute, you should be a registered Torstar account holder. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. It was transferred to the City for $2 as part of a community-benefits arrangement with the developer of a condo tower more than a kilometre away on Charles Street. The board noted that Guzman held RBCs position as Canadas largest retail fund company and largest full-service wealth advisory business. 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. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. The estimated additional pay is $183,202 per year. At the time, he was leader of the Progressive Conservative Party of Ontario. 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. 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. $138,110 / yr. Analyst salaries - 222 salaries reported. RBC is facing two shareholder proposals this year, both of which the bank advises voting against. The estimated base pay is $177,025 per year. Management resources and compensation committee. 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. 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. A request that the bank create a new technologies committee. She will join former RBC CEO Gord Nixon on the BCE board, which he chairs. Please try again. Toronto-Dominion Bank and Bank of Nova Scotia have already released their proxy circulars. She discusses the This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Her passion for employees, clients, and community set her apart, noted Mr. McKay. 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. About Jennifer Tory. Kristyn Wong-Tam, the councillor for the area, says she was also not informed in advance. 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. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy. Royal Banks annual general meeting will be held April 4, 2019. The U.S., in comparison, has women bank CEOs, including Beth Mooney at KeyCorp, Ellen Alemany at CIT Group Inc., andSynchrony Financials Margaret Keane. The banks are definitely playing a leadership role in Canada, Catalysts van Biesen said. 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. The average RBC hourly pay ranges from approximately $18 per hour for a Client Service Representative to $38 per hour for a Business Analyst. Salary information comes from 1,524 data points collected directly from employees, users, and past and present . var CurrentYear = new Date().getFullYear() 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 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. Elizabeth's mother, Helen Yvonne Solomon, was born . Douglas McGregor, group head, RBC Capital Markets and RBC Investor & Treasury Services, made $10.8 million in total compensation, the same amount as 2017. 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. Fukakusa, who was also Royal Banks chief administrative officer, retired in January after 31 years at the bank. "Not only did we do a safari, but we spent four days with Marc and Craig Kielburger and Free The Children," Jennifer . About RBC 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. 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.. 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 property is currently assessed at just under $2.3 million for tax purposes. The City said renovations have not started yet. 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. 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. Comments may take up to an hour for moderation before appearing on the site. Find Jennifer Tory's accurate email address and contact/phone number in Adapt.io. 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. A representative then handled the deal on the Kielburgers behalf. Allied Properties REIT This copy is for your personal non-commercial use only. Star Newspapers Limited and/or its licensors. 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. She most recently acted as chief administrative officer for the bank. pic.twitter.com/l4xHoPe29R. 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. Associate salaries - 271 salaries reported. His signature is on the articles of incorporation for 7619804 Canada Corporation, and he signed off on its most recent annual return. Royal Bank of Canada has appointed Jennifer Tory as the new head of its retail bank, its largest and most important business. 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. 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. 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. "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. Prior to her current role, she was Senior Vice President of Operations for Canadian Banking RBC. Toronto-Dominion Bank and Bank of Nova Scotia have already released their proxy circulars. 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. If you don't see it, please check your junk folder. 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. Additionally, she provides leadership and oversight of transformational initiatives, with a particular focus on how the enterprise works together to further RBC's success. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. Ms. Tory joined RBC in 1978. Thrilled to sign the register at the wedding of Leysa Cerswell and Craig Kielburger in Scarborough. 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.. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. [1] They had four children: John H. Tory (born 1954), Jennifer (born 1955), Jeffrey (born 1960) and Michael (born 1961). The lease started on January 1. Neil McLaughlin, group head, Personal & Commercial Banking, made $4.5 million in total compensation, up from $2.9 million the year before. 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. Queen's University. Follow David Berman on Twitter: @dberman_ROBOpens in a new window, Checking box will enable automatic data updates. Woodbridge is the holding company for Canadas wealthiest family, the Thomsons. 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. Continuing to use our site, you agree to our Board, said Gordon Cunningham, Chair of Trustees by. 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