Queen's University. Investor contact: He was accompanied in Kenya by his sister, Jennifer Tory. 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. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Ms. Tory has been with RBC for over 35 years, holding progressively senior roles including sales leadership, strategy, operations and human resources. 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. 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. She will hold office as a Trustee until the next annual meeting of unitholders or until her successor is elected or appointed. 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. 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. All The banks are definitely playing a leadership role in Canada, Catalysts van Biesen said. 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. expressly prohibited without the prior written consent of Toronto Free Tools . The building is now occupied, in part, by a store that repairs laptops and sells electronics. 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]. 2017-2021 . 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. 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. 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. Leads by Industry . 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. 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 City said renovations have not started yet. Ms. Tory participated in the development of RBCs Diversity Blueprint, a strategic outline of the banks diversity priorities and objectives. Thrilled to sign the register at the wedding of Leysa Cerswell and Craig Kielburger in Scarborough. The estimated total pay for a Director at RBC is $360,228 per year. Board Member. Republication or distribution of this content is Read more about cookies here. Client Advisor salaries - 258 salaries reported. HSBC Holdings Plcs Canadian unit is led by Sandra Stuart, 53. The most she received in one year was C$4.96 million for 2014. 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. The estimated additional pay is $183,202 per year. $55,284 / yr. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. A search late last week showed just three properties in their names, estimated at a quarter of that. 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 . $60,499 / yr. 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. Still, Mr. McKay's compensation was again eclipsed by the bank's group head of capital markets. 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). The U.S., in comparison, has women bank CEOs, including Beth Mooney at KeyCorp, Ellen Alemany at CIT Group Inc., andSynchrony Financials Margaret Keane. Karen McCarthy, Director, Investor Relations, 416-955-7809, Media contact: His signature is on the articles of incorporation for 7619804 Canada Corporation, and he signed off on its most recent annual return. RBC announced Mr. Nixons retirement on Dec 6. Client Associate salaries - 39 salaries reported. Additionally, she provides leadership and oversight of transformational initiatives, with a particular focus on how the enterprise works together to further RBC's success. Ms. Tory has been instrumental in the advancement of women and other diverse groups at RBC - where diversity is a long-standing core value. 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. Ms. Tory is a member of RBCs Diversity Leadership Council (DLC) and is Chair of the Canadian Banking business units DLC. 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. "Jennifer's depth of experience in retail and commercial banking ideally positions her to take on leadership of approximately 35,000 employees who are committed . She has been a champion and trailblazer for the advancement of women, LGBTQ+ and BIPOC individuals in both the bank and the broader community. "Not only did we do a safari, but we spent four days with Marc and Craig Kielburger and Free The Children," Jennifer . A request for the bank to disclose the equity ratio used by the compensation committee in its compensation-setting process. He was accompanied in Kenya by his sister, Jennifer Tory. 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. Jennifer Tory retired after a four-decade career at RBC in 2019. Find Jennifer Tory's accurate email address and contact/phone number in Adapt.io. Fukakusa, who was also Royal Bank's chief administrative officer, retired in January after 31 years at the bank. Board Memberships & Affiliations. For more information, please visit rbc.com. Fukakusa, who was also Royal Banks chief administrative officer, retired in January after 31 years at the bank. We ask you to keep your comments relevant and respectful. 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. Newcom Media Inc. We use cookies to make your website experience better. Shareholders also withdrew four shareholder proposals: three related to environmental issues and one related to workforce metrics. Awarded the Queens Jubilee Medal in 2012, Jennifer has a long history of supporting numerous community causes. 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. 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. 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. Tory married Elizabeth (Liz) Bacon, a nurse, on May 15, 1953. . 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 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 colleagues, clients or customers, or inquire about About RBC > Media Newsroom > News Releases >RBC names Jennifer Tory as Group Head, Personal & Commercial Banking. 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 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. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. 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. This section was produced by the editorial department. 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. Ms. Tory joined RBC in 1978. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Founded in 1962, Catalyst drives change with preeminent thought leadership, actionable solutions and a galvanized community of multinational corporations to accelerate and advance women into leadershipbecause progress for women is progress for everyone. 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. Newspapers Limited, 8 Spadina Avenue, 10th Floor, Toronto, ON M5V 0S8, put its Weston Foods bakery business up for sale. This advertisement has not loaded yet, but your article continues below. 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. 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. 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. Find contact's direct phone number, email address, work history, and more. Associate Director salaries - 45 salaries reported. Have a question? 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. 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. 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. A request that the bank create a new technologies committee. 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. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. Jennifer Tory retired after a four-decade career at RBC in 2019. 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. The board noted that Guzman held RBCs position as Canadas largest retail fund company and largest full-service wealth advisory business. Mayor John Tory, whose office says he was not involved in the lease, has a relationship with the WE co-founders. Top image: a September 2019 Google Street View photo of 233 and 231 Carlton Street. 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. 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. 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. We apologize, but this video has failed to load. Average RBC hourly pay ranges from approximately $9.00 per hour for Teller to $125 per hour for Pharmacist. © 2023. representative then handled the deal on the Kielburgers behalf. The property is currently assessed at just under $2.3 million for tax purposes. 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. Royal Bank of Canada Website, 1995-document.write(new Date().getFullYear()), Privacy & Security | Legal | Accessibility, Report a Fraudulent Email or Security Concern. The next issue of Financial Post Top Stories will soon be in your inbox. Every day, get the financial news that matters in your inbox. 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. Royal Bank of Canada has appointed Jennifer Tory as the new head of its retail bank, its largest and most important business. Her passion for employees, clients, and community set her apart, noted Mr. McKay. 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. 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. 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. A representative then handled the deal on the Kielburgers behalf. This advertisement has not loaded yet, but your article continues below. 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A few weeks before the City leased 233 Carlton, Council agreed to acquire a nearby building, 218 Carlton, for use as affordable housing. Vice President salaries - 53 salaries reported. There is no lack of energy, effort and discussion happening.. All rights reserved. There was an error, please provide a valid email address. "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. At the time, he was leader of the Progressive Conservative Party of Ontario. Along with other members of Group Executive, Jennifer is responsible for setting the overall strategic direction of RBC. 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. She will join former RBC CEO Gord Nixon on the BCE board, which he chairs. 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. 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. This copy is for your personal non-commercial use only. Wittington also controls Selfridges Group Ltd., which owns the upscale department store Holt Renfrew (Canada). Star Newspapers Limited and/or its licensors. 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? The agreement was completed last summer before neighbourhood residents could be consulted. Graduated. 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. The average RBC salary ranges from approximately $37,000 per year for Client Advisor to $200,000 per year for Business Manager. 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.. In your inbox the wedding of Leysa Cerswell and Craig Kielburger in Scarborough repairs laptops and sells electronics advisory... 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