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, 58, has been with RBC for more than 35 years, rising through a series of increasingly senior positions. Leads by Industry . WE says Fred and Theresa did not receive a tax receipt for either agreement. pic.twitter.com/l4xHoPe29R. © 2023. representative then handled the deal on the Kielburgers behalf. 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. It is a wonderful thing to be recognized for what, for me, has provided my greatest satisfaction in my 33 years at RBC developing people.. Neil McLaughlin, group head, Personal & Commercial Banking, made $4.5 million in total compensation, up from $2.9 million the year before. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. 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.. She discusses the This section was produced by the editorial department. 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.. We ask you to keep your comments relevant and respectful. 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 City of Toronto is expected to spend up to almost $10 million over 15 years to lease and renovate a property owned by the parents of Craig and Marc Kielburger, the co-founders of the WE organization. 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. Newcom Media Inc. We use cookies to make your website experience better. Please try again. $60,499 / yr. [1] They had four children: John H. Tory (born 1954), Jennifer (born 1955), Jeffrey (born 1960) and Michael (born 1961). 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. 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. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. 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. What correction? She has been a champion and trailblazer for the advancement of women, LGBTQ+ and BIPOC individuals in both the bank and the broader community. 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. 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 . Comments may take up to an hour for moderation before appearing on the site. His signature is on the articles of incorporation for 7619804 Canada Corporation, and he signed off on its most recent annual return. To order copies of 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? 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. Visit our Community Guidelines for more information and details on how to adjust your email settings. Average RBC hourly pay ranges from approximately $9.00 per hour for Teller to $125 per hour for Pharmacist. Find Jennifer Tory's accurate email address and contact/phone number in Adapt.io. Tory, 58, is currently RBC's regional president of Canadian banking for the Greater Toronto region. July 29, 2020 17:01 ET There are other women executives at Canadian financial firms who dont get named in regulatory filings but hold senior roles and more are increasing in the ranks. Awarded the Queen's Jubilee Medal in 2013, Tory has a long history of supporting numerous community causes. Pavi Binning is the current president of Wittington. Ms. Tory has been instrumental in the advancement of women and other diverse groups at RBC - where diversity is a long-standing core value. 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.. 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. About RBC We encountered an issue signing you up. She is an outstanding leader with a track record of strong performance throughout her career. 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. She will join former RBC CEO Gord Nixon on the BCE board, which he chairs. 1978-2019. Thus far, McKay has the second-highest CEO compensation, and TDs CEO has the highest. Management resources and compensation committee. 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. 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. 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. 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. 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.". Royal Bank of Canada's chief executive officer was paid $10.9-million in total compensation in 2015, his first full year as CEO, marking a 44-per-cent increase from the previous 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. Salary information comes from 1,524 data points collected directly from employees, users, and past and present . 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. Prior to her current role, she was Senior Vice President of Operations for Canadian Banking RBC. 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. Board Member. A search late last week showed just three properties in their names, estimated at a quarter of that. Victor Li, the CFO for WE Charity and ME to WE, assisted the Kielburger parents in setting up both numbered companies. If you don't see it, please check your junk folder. 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. Ms. Tory participated in the development of RBCs Diversity Blueprint, a strategic outline of the banks diversity priorities and objectives. Tory married Elizabeth (Liz) Bacon, a nurse, on May 15, 1953. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. presentation-ready copies of Toronto Star content for distribution This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Fukakusa, 62, was one of a handful of veteran women executives in Canadian banking that have kept pace with their male counterparts. His son, John Tory, is the current Mayor of Toronto and former Progressive Conservative Party of Ontario leader. These positions allow her to significantly influence and impact the banks diversity agenda, plans, and goals. 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. Shareholders also withdrew four shareholder proposals: three related to environmental issues and one related to workforce metrics. In 2010, she was named one of Canadas Most Powerful Women: Top 100 by Womens Executive Network. 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. 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.. 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. "Not only did we do a safari, but we spent four days with Marc and Craig Kielburger and Free The Children," Jennifer . 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. Web"/> . She will join former RBC CEO Gord Nixon on the BCE. "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 . The company will hold its annual shareholder meeting via webcast on April 29, at which point the new directors are expected to be approved. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. 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. Queen's University. The next issue of Financial Post Top Stories will soon be in your inbox. Royal Bank of Canada has appointed Jennifer Tory as the new head of its retail bank, its largest and most important business. To order 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. 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. 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. 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. permissions/licensing, please go to: www.TorontoStarReprints.com. Women also populate the CEO level and senior ranks at the countrys credit unions, including Vancouver City Savings Credit Union, headed by Tamara Vrooman. Ms. Tory is a director of BCE and Bell Canada board since April2021. Client Advisor salaries - 258 salaries reported. 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. 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. 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. The client was not given the opportunity to put restrictions on the content or review it prior to publication. 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. In Canada, there are also no women overseeing investment-banking divisions , whose heads tend to command the highest pay packages after CEOs. Tory, 58, is currently RBC's regional president of Canadian banking for the Greater Toronto region. 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.. 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. 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