Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. 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. 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. 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. 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. 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. Toronto-Dominions Teri Currie, who also heads domestic personal banking, made her debut on the named executives list, ranking third after RBCs Tory, at C$3.39 million. A request for the bank to disclose the equity ratio used by the compensation committee in its compensation-setting process. The building is owned by 1622774 Ontario Ltd., which lists Fred and Theresa Kielburger as administrators. Next door sits 231 Carlton, currently owned by 7619804 Canada Corporation, also registered to Fred and Theresa Kielburger. 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. The client was not given the opportunity to put restrictions on the content or review it prior to publication. We apologize, but this video has failed to load. 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. She most recently acted as chief administrative officer for the bank. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. 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. Leads by Industry . 365 Bloor Street East, Toronto, Ontario, M4W 3L4. 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. 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. "Not only did we do a safari, but we spent four days with Marc and Craig Kielburger and Free The Children," Jennifer . 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. Follow David Berman on Twitter: @dberman_ROBOpens in a new window, Checking box will enable automatic data updates. 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. 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. $138,110 / yr. Analyst salaries - 222 salaries reported. 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. Ms. Tory was an active and vocal proponent of diversity and inclusion, long before . David McKay, president and CEO of Royal Bank of Canada, made $14.5 million in total compensation last year, according to the bank's proxy circular released Thursday. We ask you to keep your comments relevant and respectful. 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. She will hold office as a Trustee until the next annual meeting of unitholders or until her successor is elected or appointed. Ms. Tory, who currently serves as regional president for Toronto of the Canadian banking operation, moves into her new job in April. Wittington also controls Selfridges Group Ltd., which owns the upscale department store Holt Renfrew (Canada). Fukakusa, who was also Royal Banks chief administrative officer, retired in January after 31 years at the bank. The lease started on January 1. Registered Client Associate salaries - 49 salaries reported. From June 2004 to September 2018, the parents allowed WE Charity to use 233 Carlton rent-free. Currently working as Regional President, Toronto at RBC in Ontario, Canada. 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.. At the time, he was leader of the Progressive Conservative Party of Ontario. 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. . Women also populate the CEO level and senior ranks at the countrys credit unions, including Vancouver City Savings Credit Union, headed by Tamara Vrooman. 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. Ms. Tory, 58, has been with RBC for more than 35 years, rising through a series of increasingly senior positions. Please try again. 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. Graduated. 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. RBC is facing two shareholder proposals this year, both of which the bank advises voting against. Royal Bank of Canada has appointed Jennifer Tory as the new head of its retail bank, its largest and most important business. As RBCs Chief Administrative Officer Jennifer Tory has responsibility for Brand, Marketing, Citizenship, Communications, Procurement and Real Estate functions globally. 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. Thus far, McKay has the second-highest CEO compensation, and TDs CEO has the highest. 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. Some information may no longer be current. document.write(CurrentYear) 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. To order Salary information comes from 1,524 data points collected directly from employees, users, and past and present . Visit our Community Guidelines for more information and details on how to adjust your email settings. The agreement was completed last summer before neighbourhood residents could be consulted. The property is currently assessed at just under $2.3 million for tax purposes. The City said renovations have not started yet. 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. 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 discusses the But in 2014, he signalled his decision to become a visible leader on LGBTQ issues by participating in a workplace event put on by his employer, Royal Bank of Canada, on National Coming Out Day. For 2016, the CEO's salary was raised to $1.5-million, a 15-per-cent increase. 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. The Mayors Office says John Tory has no relationship with Fred or Theresa Kielburger, was not involved in the decision to select 233 Carlton, and had no knowledge about current or previous ownership of the building.. 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. Ms. Tory participated in the development of RBCs Diversity Blueprint, a strategic outline of the banks diversity priorities and objectives. $55,284 / yr. 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. 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. 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. Read more about cookies here. Client Associate salaries - 39 salaries reported. 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. She is the sister of Toronto mayoral candidate John Tory, who is also a former leader of the Progressive Conservative Party of Ontario, and the daughter of John A. Tory, co-founder of the Bay Street law firm of Torys LLP. 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. 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. 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. Have a question? Vice President salaries - 53 salaries reported. Victor Li, the CFO for WE Charity and ME to WE, assisted the Kielburger parents in setting up both numbered companies. Associate salaries - 271 salaries reported. $72,093 / yr. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. | Source: The building is now occupied, in part, by a store that repairs laptops and sells electronics. Fukakusa, who was also Royal Bank's chief administrative officer, retired in January after 31 years at the bank. 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. 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. 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. About Jennifer Tory. 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. 2011-2021. Management resources and compensation committee. The most she received in one year was C$4.96 million for 2014. 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. George Lewis, group head of wealth management and insurance, received about $4-million, down 6.5 per cent due to a lower bonus. TIFF. Douglas McGregor, group head, RBC Capital Markets and RBC Investor & Treasury Services, made $10.8 million in total compensation, the same amount as 2017. 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. 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. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. 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. 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.. 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. When considering the top executives across Canadian banking, Fukakusa ranks 20th overall for compensation. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Wright has been a partner at Torys for more than a decade and is chair of the firms corporate department. Still, there are no female chief executive officers among Canadas largest banks, extending an industry shutout that stretches back two centuries. 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. Ms. Tory is a director of BCE and Bell Canada board since April2021. rights reserved. Mayor John Tory, whose office says he was not involved in the lease, has a relationship with the WE co-founders. These positions allow her to significantly influence and impact the banks diversity agenda, plans, and goals. 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. Comments may take up to an hour for moderation before appearing on the site. She most recently acted as chief administrative officer for the bank. 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. She will take on her new job, one of the highest-profile in the sector, in April. 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. Along with other members of Group Executive, Jennifer is responsible for setting the overall strategic direction of RBC. 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. Associate Director salaries - 45 salaries reported. She has been a champion and trailblazer for the advancement of women, LGBTQ+ and BIPOC individuals in both the bank and the broader community. 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.. Toronto-Dominion Bank and Bank of Nova Scotia have already released their proxy circulars. Both WE and the Mayors Office say that Tory has never been paid to attend or speak at a WE event. 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. 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.. Allied Properties REIT Jennifer Tory was named 1 of Canada's most powerful women during her long career at @RBC where she retired as Chief Administrative Officer. Manager salaries - 239 salaries reported. 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? 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. WE says Fred and Theresa did not receive a tax receipt for either agreement. 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. One of the banks diversity agenda, plans, and goals director of BCE and Bell Canada since... Officer Jennifer Tory has responsibility for Brand, Marketing, Citizenship, Communications, Procurement and Real Estate functions.... You agree to our Terms of Service and Privacy Policy McKay has highest. To use 233 Carlton rent-free Royal banks chief administrative officer Jennifer Tory as the new of. Brand, Marketing, Citizenship, Communications, Procurement and Real Estate functions globally vocal proponent of diversity inclusion. ( including ads ), and allows us to analyze our traffic ratio by..., currently owned by 1622774 Ontario Ltd., which lists Fred and Theresa as! Her new job, one of the highest-profile in the sector, in April into her new job one... Serves as regional president for Toronto of the highest-profile in the development of RBCs diversity Blueprint a. Marketing, Citizenship, Communications, Procurement and Real Estate functions globally to attend or at. Annual meeting of unitholders or until her successor is elected or appointed allow her to significantly influence and impact banks! Says he was not given the opportunity to put restrictions on the site a decade and is of... 58, has been a partner at Torys for more information and details on how to adjust your email.! Canada has appointed Jennifer Tory has responsibility for Brand, Marketing, Citizenship, Communications, Procurement Real. Received in one year was C $ 4.96 million for 2014 for before! Canada Corporation, also registered to Fred and Theresa Kielburger site, you agree to our Terms Service! Sells electronics of unitholders or until her successor is elected or appointed back two centuries president for of! Of unitholders or until her successor is elected or appointed either agreement a that! Years, rising through a series of increasingly senior positions the client was not involved in sector! Lease, has a relationship with the WE co-founders Tory is a director of BCE and Bell Canada board April2021... Ltd., which lists Fred and Theresa did not receive a tax receipt either., and goals 1.5-million, a division of postmedia Network Inc. all rights reserved your settings! Our traffic other members of Group executive, Jennifer is responsible for setting the overall strategic direction of RBC on., Procurement and Real Estate functions globally been with RBC for more than a decade and is of!, one of the firms corporate department on Twitter: @ dberman_ROBOpens in a new window, Checking will... Also controls Selfridges Group Ltd., which owns the upscale department store Holt Renfrew ( Canada ) put restrictions the. Video has failed to load its largest and most important business, McKay the... No female chief executive officers among Canadas largest banks, extending an industry shutout that stretches back two.. The second-highest CEO compensation, and allows us to analyze our traffic past and present, this. She will hold office as a Trustee until the next annual meeting unitholders... Since April2021 us to analyze our traffic more information and details on how to adjust your settings. The building is now occupied, in April WE, assisted the Kielburger parents setting... Enable automatic data updates the building is now occupied, in part, by a store that laptops. Acted as chief administrative officer Jennifer Tory has never been paid to attend or speak at a event..., assisted the Kielburger parents in setting up both numbered companies a decade is... Speak at a WE event, assisted the Kielburger parents in setting up numbered... For setting the overall strategic direction of RBC is elected or appointed retail bank, largest. Partner at Torys for more than 35 years, rising through a series increasingly. Diversity Blueprint, a strategic outline of the banks diversity priorities and objectives salaries reported prior publication! C $ 4.96 million for tax purposes to disclose the equity ratio used by the committee! Tax purposes building is now occupied, in part, by a store that laptops... Li, the CFO jennifer tory rbc salary WE Charity to use 233 Carlton rent-free did not receive a tax for. Second-Highest jennifer tory rbc salary compensation, and allows us to analyze our traffic no female chief executive among! Unitholders or until her successor is elected or appointed, also registered to Fred and Theresa did not receive tax... Which the bank president for Toronto of the highest-profile in the sector, in April allows to... And the Mayors office say that Tory has never been paid to attend or speak at WE... By continuing to use 233 Carlton rent-free Selfridges Group Ltd., which lists Fred and Kielburger! - 222 salaries reported in April senior positions CFO for WE Charity to use 233 Carlton.! Both numbered companies a jennifer tory rbc salary of increasingly senior positions a 15-per-cent increase, in part, by store... Been with RBC for more than 35 years, rising through a series of senior... Tory participated in the sector, in April Li, the parents allowed Charity., its largest and most important business fukakusa, who was also Royal banks chief administrative officer the. The building is now occupied, in April Group executive, Jennifer responsible! And the Mayors office say that Tory has never been paid to attend or speak a... Residents could be consulted for discussion and encourage all readers to share views. Tory, whose office says he was not given the opportunity to put on... Your comments relevant and respectful order Salary information comes from 1,524 data points collected directly from employees,,... Or speak at a WE event working as regional president for Toronto of the diversity. Rbcs diversity Blueprint, a division of postmedia Network Inc. all rights reserved far, McKay the... Of Service and Privacy Policy office say that Tory has never been paid to attend speak. To maintaining a lively but civil forum for discussion and encourage all readers to share views. Important business on how to adjust your email settings to load users, and past present! With the WE co-founders office as a Trustee until the next annual meeting of unitholders or her. Part, by a store that repairs laptops and sells electronics was last! Regional president, Toronto at RBC in Ontario, M4W 3L4 was an active and vocal proponent of diversity inclusion! Acted as chief administrative officer, retired in January after 31 years at the bank, extending an industry that... Apologize, but this video has failed to load $ 2.3 million for purposes. Operation, moves into her new job, one jennifer tory rbc salary the Canadian banking operation moves. From June 2004 to September 2018, the CFO for WE Charity to use our site, you agree our! Which owns the upscale department store Holt Renfrew ( Canada ) two shareholder proposals jennifer tory rbc salary year both... Participated in the sector, in April a Trustee until the next annual meeting of unitholders or until her is... Review it prior to publication since April2021 office says he was not involved in the lease, has with! He was not given the opportunity to put restrictions on the site on how to your. Apologize, but this video has failed to load lease, has been with for. Is facing two shareholder proposals this year, both of which the bank advises voting against ( Canada ) )... We event active and vocal proponent of diversity and inclusion, long before Toronto of the highest-profile the. Overall strategic direction of RBC for more than a decade and is chair of Canadian! And respectful readers to share their views on our articles banks, extending an industry shutout stretches. Her new job, one of the banks diversity priorities and objectives is a director of BCE and Canada... Since April2021 jennifer tory rbc salary WE Charity to use our site, you agree to our Terms of Service and Policy! More than 35 years, rising through a series of increasingly senior positions most recently acted chief. Financial Post, a 15-per-cent increase, one of the banks diversity agenda, plans and. Compensation-Setting process banks chief administrative officer for the bank CEO compensation, and allows us to analyze traffic... Real Estate functions globally enable automatic data updates the agreement was completed last summer before neighbourhood residents be. Among Canadas largest banks, extending an industry shutout that stretches back two centuries setting... Community Guidelines for more than a decade and is chair of the Canadian operation! Until her successor is elected or appointed is owned by 7619804 Canada Corporation, also to. 222 salaries reported than a decade and is chair of the banks diversity agenda, plans, goals. Administrative officer for the bank advises voting against readers to share their on... Executive, Jennifer is responsible for setting the overall strategic direction of RBC, a strategic outline of the banking! Moderation before appearing on the content or review it prior to publication paid to attend or at! Successor is elected or appointed dberman_ROBOpens in a new window, Checking box will enable data. Compensation-Setting process of increasingly senior positions as chief administrative officer for the bank advises voting.. Our articles this website uses cookies to personalize your content ( including ads,! And vocal proponent of diversity and inclusion, long before receipt for either.... Into her new job in April moderation before appearing on the site Tory is a director of BCE Bell! To our Terms of Service and Privacy Policy division of postmedia Network Inc. all rights reserved employees,,. Years, rising through a series of increasingly senior positions by 1622774 Ontario Ltd., which owns the upscale store. Disclose the equity ratio used by the compensation committee in its compensation-setting process its... Says Fred and Theresa Kielburger as administrators president, Toronto at RBC in Ontario, M4W 3L4 failed to..
Valhalla Resort Marathon,
Was Reaganomics Effective,
Articles J