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. Royal Bank of Canada has appointed Jennifer Tory as the new head of its retail bank, its largest and most important business. 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. Associate Director salaries - 45 salaries reported. Additionally, she provides leadership and oversight of transformational initiatives, with a particular focus on how the enterprise works together to further RBC's success. Toronto Star articles, please go to: www.TorontoStarReprints.com, Conversations are opinions of our readers and are subject to the, The Toronto Star and thestar.com, each property of Toronto Star 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. 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. Awarded the Queen's Jubilee Medal in 2013, Tory has a long history of supporting numerous community causes. 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 . Wright has been a partner at Torys for more than a decade and is chair of the firms corporate department. A search late last week showed just three properties in their names, estimated at a quarter of that. Web"/> . | Source: Mayor John Tory, whose office says he was not involved in the lease, has a relationship with the WE co-founders. A request for the bank to disclose the equity ratio used by the compensation committee in its compensation-setting process. 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. 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. 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. Still, there are no female chief executive officers among Canadas largest banks, extending an industry shutout that stretches back two centuries. The estimated additional pay is $183,202 per year. $139,667 / yr. 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]. The next issue of Financial Post Top Stories will soon be in your inbox. Thrilled to sign the register at the wedding of Leysa Cerswell and Craig Kielburger in Scarborough. 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. 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. 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. 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. Board Memberships & Affiliations. 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. "Not only did we do a safari, but we spent four days with Marc and Craig Kielburger and Free The Children," Jennifer . If you don't see it, please check your junk folder. This advertisement has not loaded yet, but your article continues below. document.write(CurrentYear) To order copies of Neil McLaughlin, group head, Personal & Commercial Banking, made $4.5 million in total compensation, up from $2.9 million the year before. 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.. 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.. 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. 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. $84,613 / yr. Director salaries - 231 salaries reported. Wittington also controls Selfridges Group Ltd., which owns the upscale department store Holt Renfrew (Canada). She will join former RBC CEO Gord Nixon on the BCE board, which he chairs. 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. Karen McCarthy, Director, Investor Relations, 416-955-7809, Media contact: Elizabeth's mother, Helen Yvonne Solomon, was born . We encountered an issue signing you up. A dedicated sponsor, passionate speaker, and active community member, Ms. Tory continues to develop and advance women while providing an example for others of the value of diversity. Client Associate salaries - 39 salaries reported. Does growth in self-managed accounts defy need for advice? 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. 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. Anyone can read Conversations, but to contribute, you should be a registered Torstar account holder. Salary information comes from 1,524 data points collected directly from employees, users, and past and present . 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. She most recently acted as chief administrative officer for the bank. WE says Fred and Theresa did not receive a tax receipt for either agreement. Some information may no longer be current. Tory married Elizabeth (Liz) Bacon, a nurse, on May 15, 1953. 1978-2019. 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. Associate salaries - 271 salaries reported. 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. 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. A representative then handled the deal on the Kielburgers behalf. Please try again. 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. The average RBC salary ranges from approximately $37,000 per year for Client Advisor to $200,000 per year for Business Manager. 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. Comments may take up to an hour for moderation before appearing on the site. permissions/licensing, please go to: www.TorontoStarReprints.com. 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. July 29, 2020 17:01 ET The client was not given the opportunity to put restrictions on the content or review it prior to publication. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. Ive worked with Jennifer for many years. 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. 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. 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. He was accompanied in Kenya by his sister, Jennifer Tory. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. 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. Board Member. Next door sits 231 Carlton, currently owned by 7619804 Canada Corporation, also registered to Fred and Theresa Kielburger. She has been a champion and trailblazer for the advancement of women, LGBTQ+ and BIPOC individuals in both the bank and the broader community. 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. We apologize, but this video has failed to load. Comments may take up to an hour for moderation before appearing on the site. Still, Mr. McKay's compensation was again eclipsed by the bank's group head of capital markets. We apologize, but this video has failed to load. to colleagues, clients or customers, or inquire about As a committed mentor and advocate, Ms. Tory actively sponsors women into executive roles at the bank. Janice Fukakusa, RBC's chief financial officer, received total compensation of about $5-million in 2015, up 1 per cent from 2014. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Find Jennifer Tory's accurate email address and contact/phone number in Adapt.io. She will take on her new job, one of the highest-profile in the sector, in April. The agreement was completed last summer before neighbourhood residents could be consulted. 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.. 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. Star Newspapers Limited and/or its licensors. Average RBC hourly pay ranges from approximately $9.00 per hour for Teller to $125 per hour for Pharmacist. Because the properties were purchased solely to support WE Charity, I simply assisted in their incorporation.. About RBC > Media Newsroom > News Releases >RBC names Jennifer Tory as Group Head, Personal & Commercial Banking. 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. Fukakusa, who was also Royal Bank's chief administrative officer, retired in January after 31 years at the bank. What correction? Her responsibilities will include retail banking operations and certain retail . Ms. Tory is a member of RBCs Diversity Leadership Council (DLC) and is Chair of the Canadian Banking business units DLC. 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. 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. $38,804 / yr. $159,715 / yr. 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. Thus far, McKay has the second-highest CEO compensation, and TD's CEO has the highest. 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.. RBC. McKays 2018 total direct compensation was $13.5 million, which was 13% above his targeted compensation and a 9% increase from 2017. If you don't see it, please check your junk folder. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Allied Properties REIT Visit our Community Guidelines for more information and details on how to adjust your email settings. 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.. About Jennifer Tory. 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. 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. Have a question? 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