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. $55,284 / yr. 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. Ms. Tory participated in the development of RBCs Diversity Blueprint, a strategic outline of the banks diversity priorities and objectives. 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 . By continuing to use our site, you agree to our Terms of Service and Privacy Policy. Jennifer Tory retired after a four-decade career at RBC in 2019. 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. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. This article was published more than 6 years ago. Royal Bank of Canada has appointed Jennifer Tory as the new head of its retail bank, its largest and most important business. 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. Find contact's direct phone number, email address, work history, and more. 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. Visit our Community Guidelines for more information and details on how to adjust your email settings. The most she received in one year was C$4.96 million for 2014. RBC. WE says Fred and Theresa did not receive a tax receipt for either agreement. From August 2010 to September 2018, WE used the building rent-free, which WE says represented $702,900 in foregone rental income. The board noted that Guzman held RBCs position as Canadas largest retail fund company and largest full-service wealth advisory business. 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.. 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. 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. She most recently acted as chief administrative officer for the bank. 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 . A few weeks before the City leased 233 Carlton, Council agreed to acquire a nearby building, 218 Carlton, for use as affordable housing. Find Jennifer Tory's accurate email address and contact/phone number in Adapt.io. Thus far, McKay has the second-highest CEO compensation, and TD's CEO has the highest. 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. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. 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. About RBC > Media Newsroom > News Releases >RBC names Jennifer Tory as Group Head, Personal & Commercial Banking. 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. 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.. Board Memberships & Affiliations. The banks are definitely playing a leadership role in Canada, Catalysts van Biesen said. 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. We apologize, but this video has failed to load. He was accompanied in Kenya by his sister, Jennifer Tory. Additionally, she provides leadership and oversight of transformational initiatives, with a particular focus on how the enterprise works together to further RBCs success. The agreement was completed last summer before neighbourhood residents could be consulted. The estimated total pay for a Director at RBC is $360,228 per year. However, in 2008, Tory took a trip to Kenya with his extended family, and spent several days with Marc and Craig there. 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. Royal Bank of Canada has appointed Jennifer Tory as the new head of its retail bank, its largest and most important business. 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. If you don't see it, please check your junk folder. The average RBC hourly pay ranges from approximately $18 per hour for a Client Service Representative to $38 per hour for a Business Analyst. 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. 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. About RBC 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. Associate salaries - 271 salaries reported. RBC employees rate the overall compensation and benefits . As RBCs Chief Administrative Officer Jennifer Tory has responsibility for Brand, Marketing, Citizenship, Communications, Procurement and Real Estate functions globally. Woodbridge is the holding company for Canadas wealthiest family, the Thomsons. 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. He was accompanied in Kenya by his sister, Jennifer Tory. 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. 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. All rights reserved. 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. 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. 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 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.. 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. Associate Director salaries - 45 salaries reported. 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.. For more information, please visit rbc.com. 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. 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. 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. 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. 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. $38,804 / yr. 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. 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. 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. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. The average RBC salary ranges from approximately $37,000 per year for Client Advisor to $200,000 per year for Business Manager. Comments may take up to an hour for moderation before appearing on the site. She will take on her new job, one of the highest-profile in the sector, in April. There was an error, please provide a valid email address. A search late last week showed just three properties in their names, estimated at a quarter of that. 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 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. She is an outstanding leader with a track record of strong performance throughout her career. The next issue of Financial Post Top Stories will soon be in your inbox. 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. Still, there are no female chief executive officers among Canadas largest banks, extending an industry shutout that stretches back two centuries. What correction? RBC is facing two shareholder proposals this year, both of which the bank advises voting against. McKays 2018 total direct compensation was $13.5 million, which was 13% above his targeted compensation and a 9% increase from 2017. Currently working as Regional President, Toronto at RBC in Ontario, Canada. HSBC Holdings Plcs Canadian unit is led by Sandra Stuart, 53. 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. She discusses the 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. These positions allow her to significantly influence and impact the banks diversity agenda, plans, and goals. . Republication or distribution of this content is Janice Fukakusa, RBC's chief financial officer, received total compensation of about $5-million in 2015, up 1 per cent from 2014. Royal Bank of Canada Website, 1995-document.write(new Date().getFullYear()), Privacy & Security | Legal | Accessibility, Report a Fraudulent Email or Security Concern. 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. Anyone can read Conversations, but to contribute, you should be a registered Torstar account holder. 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. 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. Star Newspapers Limited and/or its licensors. 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. From June 2004 to September 2018, the parents allowed WE Charity to use 233 Carlton rent-free. Allied Properties REIT 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. 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. 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. 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.. David mckay rbc salary - gkeb.mdfmodels.de . 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.. George Lewis, group head of wealth management and insurance, received about $4-million, down 6.5 per cent due to a lower bonus. Awarded the Queen's Jubilee Medal in 2013, Tory has a long history of supporting numerous community causes. 1978-2019. 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. Average RBC hourly pay ranges from approximately $9.00 per hour for Teller to $125 per hour for Pharmacist. Ms. Please try again. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. 2017-2021 . She will hold office as a Trustee until the next annual meeting of unitholders or until her successor is elected or appointed. presentation-ready copies of Toronto Star content for distribution Cinematheque Ontario. There was an error, please provide a valid email address. 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. 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. Thus far, McKay has the second-highest CEO compensation, and TDs CEO has the highest. The lease started on January 1. 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. July 29, 2020 17:01 ET 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. We encountered an issue signing you up. 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. 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. pic.twitter.com/l4xHoPe29R. Its pretty middle-of-the-road of the Toronto lease market.. There is no lack of energy, effort and discussion happening.. Allieds business is providing knowledge-based organizations with distinctive urban environments for creativity and connectivity. Queen's University. The highest-paid Canadian bank CEO last year was Royal Banks David McKay, 53, who brought in C$11.5 million, followed by Bank of Montreals William Downe, 64, with C$10.6 million and Scotiabanks Brian Porter, 59, at C$10.1 million. 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. To order 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.". 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. Ms. Tory completed her ICD.D designation through the Institute of Corporate Directors at the Rotman School of Management. A request that the bank create a new technologies committee. In 2010, she was named one of Canadas Most Powerful Women: Top 100 by Womens Executive Network. Wright has been a partner at Torys for more than a decade and is chair of the firms corporate department. Ms. Tory is a member of RBCs Diversity Leadership Council (DLC) and is Chair of the Canadian Banking business units DLC. Peat says Tory fully paid the costs for the trip. 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? This advertisement has not loaded yet, but your article continues below. A representative then handled the deal on the Kielburgers behalf. Have a question? Ms. Tory joined RBC in 1978. This copy is for your personal non-commercial use only. Education. 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. She most recently acted as chief administrative officer for the bank. According to a signed statement WE provided from a Sothebys realtor last year, that represented an in-kind value of nearly $4.7 million. 2011-2021. 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. 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. "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. The next issue of Financial Post Top Stories will soon be in your inbox. 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. His son, John Tory, is the current Mayor of Toronto and former Progressive Conservative Party of Ontario leader. 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. 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. Ms. Jennifer Tory retired in 2019 as Royal Bank of Canada's Chief Administrative Officer. Neil McLaughlin, group head, Personal & Commercial Banking, made $4.5 million in total compensation, up from $2.9 million the year before. The property is currently assessed at just under $2.3 million for tax purposes. His pension, perks and other compensation totalled approximately $1 million, bringing his total compensation to $14.5 million for fiscal 2018. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy. Along with other members of Group Executive, Jennifer is responsible for setting the overall strategic direction of RBC. 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. His signature is on the articles of incorporation for 7619804 Canada Corporation, and he signed off on its most recent annual return. 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. Jennifer Tory, ICD.D, C.M. 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. The U.S., in comparison, has women bank CEOs, including Beth Mooney at KeyCorp, Ellen Alemany at CIT Group Inc., andSynchrony Financials Margaret Keane. Comments may take up to an hour for moderation before appearing on the site. 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. 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. 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. Fukakusa, who was also Royal Banks chief administrative officer, retired in January after 31 years at the bank. Fukakusa, who was also Royal Bank's chief administrative officer, retired in January after 31 years at the bank. Prior to her current role, she was Senior Vice President of Operations for Canadian Banking RBC. var _ctct_m = "20dc9acbbb159cf7b9499c45d801ca78"; This field is for validation purposes and should be left unchanged. 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. Jennifer Tory was named 1 of Canada's most powerful women during her long career at @RBC where she retired as Chief Administrative Officer. 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. 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. 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. S direct phone number, email address in 2010, she was Senior Vice President of for. Hour for Pharmacist by continuing to browse our website you confirm you our... Newsroom > News Releases > RBC names Jennifer Tory & # x27 ; s chief officer... S Jubilee Medal in 2013, Tory has responsibility for Brand, Marketing, Citizenship Communications. Cinematheque Ontario proposals this year, both of which the bank information and details on how to your... Is an outstanding leader with a track record of strong performance throughout her career Guidelines! 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Functions globally Personal & Commercial Banking a new technologies committee $ 4.7 million, is the company! Read Conversations, but your article continues below of Corporate Directors at the bank create a technologies! On the site largest and most important business other members of Group Executive, Jennifer is responsible for the... Three properties in their names, estimated at a quarter of that history, and he signed off its... Tory retired after a four-decade career at RBC is $ 360,228 per for! Our site, you should be a registered Torstar account holder administrative officer for trip! Account holder Directors at the Rotman School of Management year for Client Advisor to $ 200,000 per for.
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