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. Associate Director salaries - 45 salaries reported. Her responsibilities will include retail banking operations and certain retail . 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. Despite speculation by residents of Torontos Cabbagetown neighbourhood, who have pointed to Mayor John Torys long relationship with the Kielburgers, a spokesperson for the mayor says he had no involvement in the decision, which was made by City staff without Council approval. George Lewis, group head of wealth management and insurance, received about $4-million, down 6.5 per cent due to a lower bonus. Registered Client Associate salaries - 49 salaries reported. Tory, 58, is currently RBC's regional president of Canadian banking for the Greater Toronto region. The next issue of Financial Post Top Stories will soon be in your inbox. We apologize, but this video has failed to load. Read more about cookies here. Additionally, she provides leadership and oversight of transformational initiatives, with a particular focus on how the enterprise works together to further RBCs success. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. $72,093 / yr. 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. A search late last week showed just three properties in their names, estimated at a quarter of that. Karen McCarthy, Director, Investor Relations, 416-955-7809, Media contact: 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. 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. Fukakusa, 62, was one of a handful of veteran women executives in Canadian banking that have kept pace with their male counterparts. 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.. Jennifer Tory was named 1 of Canada's most powerful women during her long career at @RBC where she retired as Chief Administrative Officer. $38,804 / yr. She will join former RBC CEO Gord Nixon on the BCE board, which he chairs. I am honoured to have been asked to lead 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. Ms. Tory participated in the development of RBCs Diversity Blueprint, a strategic outline of the banks diversity priorities and objectives. The building is owned by 1622774 Ontario Ltd., which lists Fred and Theresa Kielburger as administrators. His pension, perks and other compensation totalled approximately $1 million, bringing his total compensation to $14.5 million for fiscal 2018. Because the properties were purchased solely to support WE Charity, I simply assisted in their incorporation.. 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. As a committed mentor and advocate, Ms. Tory actively sponsors women into executive roles at the bank. 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. 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. Ms. Tory is a director of BCE and Bell Canada board since April2021. 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. 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.. pic.twitter.com/l4xHoPe29R. 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. 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 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. Leads by Industry . 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. 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. Visit our Community Guidelines for more information and details on how to adjust your email settings. RBC. Visit our Community Guidelines for more information and details on how to adjust your email settings. Ms. Tory, 58, has been with RBC for more than 35 years, rising through a series of increasingly senior positions. Ms. Jennifer Tory retired in 2019 as Royal Bank of Canada's Chief Administrative Officer. 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. Mayor John Tory, whose office says he was not involved in the lease, has a relationship with the WE co-founders. The banks are definitely playing a leadership role in Canada, Catalysts van Biesen said. A few weeks before the City leased 233 Carlton, Council agreed to acquire a nearby building, 218 Carlton, for use as affordable housing. 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.. Wittington also controls Selfridges Group Ltd., which owns the upscale department store Holt Renfrew (Canada). 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. Peat says Tory fully paid the costs for the trip. 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. Ms. Tory has been with RBC for over 35 years, holding progressively senior roles including sales leadership, strategy, operations and human resources. $139,667 / yr. View Jennifer Tory's business profile as Board Member at BCE. The estimated base pay is $177,025 per year. 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 most recently acted as chief administrative officer for the bank. 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. Five of the 12 board nominees this year are women, or 42%. Toronto-Dominion Bank and Bank of Nova Scotia have already released their proxy circulars. For 2016, the CEO's salary was raised to $1.5-million, a 15-per-cent increase. Thus far, McKay has the second-highest CEO compensation, and TD's CEO has the highest. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. 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. There was an error, please provide a valid email address. 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. 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. 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. 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. Vice President salaries - 53 salaries reported. There was an error, please provide a valid email address. Thus far, McKay has the second-highest CEO compensation, and TDs CEO has the highest. Comments may take up to an hour for moderation before appearing on the site. The estimated total pay for a Director at RBC is $360,228 per year. © 2023. representative then handled the deal on the Kielburgers behalf. 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. 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. 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. Newcom Media Inc. We use cookies to make your website experience better. WE says Fred and Theresa did not receive a tax receipt for either agreement. 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. 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. Toronto-Dominion Bank and Bank of Nova Scotia have already released their proxy circulars. var CurrentYear = new Date().getFullYear() 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. Elizabeth's mother, Helen Yvonne Solomon, was born . By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy. Janice Fukakusa, RBC's chief financial officer, received total compensation of about $5-million in 2015, up 1 per cent from 2014. 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. This advertisement has not loaded yet, but your article continues below. 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. 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. Please try again. 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.. 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. 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. presentation-ready copies of Toronto Star content for distribution As RBCs Chief Administrative Officer Jennifer Tory has responsibility for Brand, Marketing, Citizenship, Communications, Procurement and Real Estate functions globally. 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. He was accompanied in Kenya by his sister, Jennifer Tory. 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. $159,715 / yr. As a committed mentor and advocate, Ms. Tory actively sponsors women into executive roles at the bank. 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. Find Jennifer Tory's accurate email address and contact/phone number in Adapt.io. The property at 218 Carlton was previously used as an office by WE Charity, which had recently sold it to a numbered company set up by the developer for $2.75 million. As RBC's Chief Administrative Officer Jennifer Tory has responsibility for Brand, Marketing, Citizenship, Communications, Procurement and Real Estate functions globally. Does growth in self-managed accounts defy need for advice? 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.. Free Tools . Awarded the Queen's Jubilee Medal in 2013, Tory has a long history of supporting numerous community causes. Tory, 58, is currently RBC's regional president of Canadian banking for the Greater Toronto region. Anyone can read Conversations, but to contribute, you should be a registered Torstar account holder. 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. S regional president of Canadian banking for the Bank the second-highest CEO compensation, and TDs CEO the... 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