This advertisement has not loaded yet, but your article continues below. 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. 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. Visit our Community Guidelines for more information and details on how to adjust your email settings. The building is set to become the new home of the Adelaide Resource Centre for Women, a 24-hour drop-in centre, expected to open in the third quarter of 2021. Allied Properties REIT
Some information may no longer be current. 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. 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. 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]. 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. 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. What correction? 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. The City said renovations have not started yet. Not only did we do a safari, but we spent four days with Marc and Craig Kielburger and Free The Children, Jennifer said in the video, referring to WE Charity by its name at the time. 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. 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. Still, there are no female chief executive officers among Canadas largest banks, extending an industry shutout that stretches back two centuries. The agreement was completed last summer before neighbourhood residents could be consulted. Ms. Tory, 58, has been with RBC for more than 35 years, rising through a series of increasingly senior positions.
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As a committed mentor and advocate, Ms. Tory actively sponsors women into executive roles at the bank. A representative then handled the deal on the Kielburgers behalf. Graduated. Visit our Community Guidelines for more information and details on how to adjust your email settings. We employ approximately 79,000 full- and part-time employees who serve more than 15 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 44 other countries. Management resources and compensation committee. Ms. Tory, who currently serves as regional president for Toronto of the Canadian banking operation, moves into her new job in April. 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. She has been a champion and trailblazer for the advancement of women, LGBTQ+ and BIPOC individuals in both the bank and the broader community. 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. The U.S., in comparison, has women bank CEOs, including Beth Mooney at KeyCorp, Ellen Alemany at CIT Group Inc., andSynchrony Financials Margaret Keane. 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. She will take on her new job, one of the highest-profile in the sector, in April. However, in 2008, Tory took a trip to Kenya with his extended family, and spent several days with Marc and Craig there. We encountered an issue signing you up. 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. 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. 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. 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.. 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? 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. Douglas McGregor, group head, RBC Capital Markets and RBC Investor & Treasury Services, made $10.8 million in total compensation, the same amount as 2017. She will hold office as a Trustee until the next annual meeting of unitholders or until her successor is elected or appointed. To order copies of When considering the top executives across Canadian banking, Fukakusa ranks 20th overall for compensation. 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. Elizabeth's mother, Helen Yvonne Solomon, was born . 2011-2021. His son, John Tory, is the current Mayor of Toronto and former Progressive Conservative Party of Ontario leader. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. $55,284 / yr. Tory, 58, is currently RBC's regional president of Canadian banking for the Greater Toronto region. Janice Fukakusa, RBC's chief financial officer, received total compensation of about $5-million in 2015, up 1 per cent from 2014. 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. 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. 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. 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. 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. 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. Unauthorized distribution, transmission or republication strictly prohibited. 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. 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 . 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. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Allied Properties REIT. Those women include Laura Dottori-Attanasio, chief risk officer at Canadian Imperial Bank of Commerce, Bank of Montreals Joanna Rotenberg, who became group head of wealth management in November and Brenda Rideout, who took the helm of Scotiabanks online lender Tangerine on March 1 after the units former CEO Peter Aceto departed. $139,667 / yr. Registered Client Associate salaries - 49 salaries reported. Associate salaries - 271 salaries reported. $84,613 / yr. Director salaries - 231 salaries reported.
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. 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. 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. 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. 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. | Source:
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. Ms. Tory is a director of BCE and Bell Canada board since April2021. document.write(CurrentYear)
George Lewis, group head of wealth management and insurance, received about $4-million, down 6.5 per cent due to a lower bonus. In this role, Ms. Tory will be responsible for the strategy and performance of the Personal & Commercial Banking segment which comprises RBCs 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. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. 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. Additionally, she provides leadership and oversight of transformational initiatives, with a particular focus on how the enterprise works together to further RBCs success. She most recently acted as chief administrative officer for the bank. Toronto-Dominion Bank and Bank of Nova Scotia have already released their proxy circulars. 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. 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.
Both WE and the Mayors Office say that Tory has never been paid to attend or speak at a WE event. We encountered an issue signing you up. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. David MacKay got a 9% raise over 2017, thanks in part to banks top position in mutual fund assets. From June 2004 to September 2018, the parents allowed WE Charity to use 233 Carlton rent-free. 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. 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. View Jennifer Tory's business profile as Board Member at BCE. There was an error, please provide a valid email address. $72,093 / yr. Further, Guzman accelerated acquisition of new clients through launch of Premier Banking, increasing high-net-worth households, with 25% growth year-over-year..
2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. Top image: a September 2019 Google Street View photo of 233 and 231 Carlton Street. A recipient of the 2011 Catalyst Canada Honour for championing women in business, Jennifer has been recognized by Womens Executive Network (WXN) as one of Canadas Most Powerful Women: Top 100 and was inducted into the WXN Hall of Fame in 2017. She has been acknowledged both internally and externally for her leadership in diversity and received a number of awards, including a Harry Jerome Award in 2013 and the Leading Executive Ally Award by Start Proud (formerly Out on Bay) in 2016. 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. As for the other named executive officers: The circular notes that 45% of RBCs executives in Canada are women, and 22% of the firms group executive are women. Toronto-Dominion Bank and Bank of Nova Scotia have already released their proxy circulars. This article was published more than 6 years ago. rights reserved. Because the properties were purchased solely to support WE Charity, I simply assisted in their incorporation.. Jennifer Tory, ICD.D, C.M. 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.. HSBC Holdings Plcs Canadian unit is led by Sandra Stuart, 53. If you do not yet have a Torstar account, you can create one now (it is free), Copyright owned or licensed by Toronto Star Newspapers Limited. The building is now occupied, in part, by a store that repairs laptops and sells electronics. 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. Client Advisor salaries - 258 salaries reported. 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. Leads by Industry . As a committed mentor and advocate, Ms. Tory actively sponsors women into executive roles at the bank. Ms. Tory completed her ICD.D designation through the Institute of Corporate Directors at the Rotman School of Management.
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. Her passion for employees, clients, and community set her apart, noted Mr. McKay. Education. Neil McLaughlin, group head, Personal & Commercial Banking, made $4.5 million in total compensation, up from $2.9 million the year before. 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. 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. The next issue of Financial Post Top Stories will soon be in your inbox. Manager salaries - 239 salaries reported.
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. to colleagues, clients or customers, or inquire about 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. 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. 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. We ask you to keep your comments relevant and respectful. As she does at RBC, Ms. Tory challenges these organizations to advance women and visible minorities in order to generate results by reflecting the populations they serve. 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. Women also populate the CEO level and senior ranks at the countrys credit unions, including Vancouver City Savings Credit Union, headed by Tamara Vrooman. 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. She most recently acted as chief administrative officer for the bank. The most she received in one year was C$4.96 million for 2014. This section was produced by the editorial department. Newspapers Limited, 8 Spadina Avenue, 10th Floor, Toronto, ON M5V 0S8, put its Weston Foods bakery business up for sale. 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. 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. Next door sits 231 Carlton, currently owned by 7619804 Canada Corporation, also registered to Fred and Theresa Kielburger. The building is owned by 1622774 Ontario Ltd., which lists Fred and Theresa Kielburger as administrators. Kristyn Wong-Tam, the councillor for the area, says she was also not informed in advance. Wittington is the Weston family holding company in Canada and majority shareholder of George Weston, which owns grocery giant Loblaw as well as bakery Weston Foods and real estate operations Choice Properties Real Estate Investment Trust. The company will hold its annual shareholder meeting via webcast on April 29, at which point the new directors are expected to be approved. Her responsibilities will include retail banking operations and certain retail . In 2010, she was named one of Canadas Most Powerful Women: Top 100 by Womens Executive Network. Web"/> . A few weeks before the City leased 233 Carlton, Council agreed to acquire a nearby building, 218 Carlton, for use as affordable housing. 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.. 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. 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. Client Associate salaries - 39 salaries reported. The board noted that Guzman held RBCs position as Canadas largest retail fund company and largest full-service wealth advisory business. 1978-2019. Five of the 12 board nominees this year are women, or 42%. From August 2010 to September 2018, WE used the building rent-free, which WE says represented $702,900 in foregone rental income. Comments may take up to an hour for moderation before appearing on the site. For 2016, the CEO's salary was raised to $1.5-million, a 15-per-cent increase. Royal Banks annual general meeting will be held April 4, 2019. 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. There was an error, please provide a valid email address. Along with other members of Group Executive, Jennifer is responsible for setting the overall strategic direction of RBC. 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. About Jennifer Tory. 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. 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. In Canada, there are also no women overseeing investment-banking divisions , whose heads tend to command the highest pay packages after CEOs. David mckay rbc salary - gkeb.mdfmodels.de . var _ctct_m = "20dc9acbbb159cf7b9499c45d801ca78"; This field is for validation purposes and should be left unchanged. 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. Ms. Tory joined RBC in 1978. 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. "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 . 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. The property is currently assessed at just under $2.3 million for tax purposes.
About RBC > Media Newsroom > News Releases >RBC names Jennifer Tory as Group Head, Personal & Commercial Banking. Allieds business is providing knowledge-based organizations with distinctive urban environments for creativity and connectivity. Ms. Investor contact:
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. Her commitment to advancing women and diversity extends beyond her role at the bank into her community. She will join former RBC CEO Gord Nixon on the BCE board, which he chairs. The client was not given the opportunity to put restrictions on the content or review it prior to publication. The banks are definitely playing a leadership role in Canada, Catalysts van Biesen said. Their incorporation.. Jennifer Tory & # x27 ; s mother, Helen Yvonne Solomon, was born of! Repairs laptops and sells electronics Jennifer is responsible for setting the overall strategic of., Catalysts van Biesen said image: a September 2019 Google Street view photo of 233 231! Sponsors women into executive roles at the Rotman School of Management in their..! 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More information and details on how to adjust your email settings with distinctive urban environments creativity.
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