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.. The property is currently assessed at just under $2.3 million for tax purposes. In 2010, she was named one of Canadas Most Powerful Women: Top 100 by Womens Executive Network. 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. 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. 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. She will take on her new job, one of the highest-profile in the sector, in April. She will hold office as a Trustee until the next annual meeting of unitholders or until her successor is elected or appointed. Does growth in self-managed accounts defy need for advice? Allied Properties REIT There is no lack of energy, effort and discussion happening.. 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. Board Member. A search late last week showed just three properties in their names, estimated at a quarter of that. $139,667 / yr. The disclosure in BCEs filing provides a rare glimpse into the operations of Wittington, an investment vehicle for the Westons, one of the wealthiest families in Canada (they ranked third on the Forbes Billionaires 2020 list). Newspapers Limited, 8 Spadina Avenue, 10th Floor, Toronto, ON M5V 0S8, put its Weston Foods bakery business up for sale. permissions/licensing, please go to: www.TorontoStarReprints.com. RBC announced Mr. Nixons retirement on Dec 6. 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. $55,284 / yr. 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 . 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. She discusses the Follow David Berman on Twitter: @dberman_ROBOpens in a new window, Checking box will enable automatic data updates. "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. If you don't see it, please check your junk folder. 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. A representative then handled the deal on the Kielburgers behalf. 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. 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. 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. 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. The next issue of Financial Post Top Stories will soon be in your inbox. 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. She has been a champion and trailblazer for the advancement of women, LGBTQ+ and BIPOC individuals in both the bank and the broader community. Read more about cookies here. Her commitment to advancing women and diversity extends beyond her role at the bank into her community. © 2023. representative then handled the deal on the Kielburgers behalf. About RBC > Media Newsroom > News Releases >RBC names Jennifer Tory as Group Head, Personal & Commercial Banking. var CurrentYear = new Date().getFullYear() David MacKay got a 9% raise over 2017, thanks in part to banks top position in mutual fund assets. 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 . We apologize, but this video has failed to load. The board noted that Guzman held RBCs position as Canadas largest retail fund company and largest full-service wealth advisory business. Management resources and compensation committee. 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. Wittington also controls Selfridges Group Ltd., which owns the upscale department store Holt Renfrew (Canada). Additionally, she provides leadership and oversight of transformational initiatives, with a particular focus on how the enterprise works together to further RBCs success. 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. Royal Bank of Canada (RY on TSX and NYSE) is Canada's largest bank and one of the largest banks in the world, based on market capitalization. personal and corporate concierge company, How a scarcity mindset leads to infighting between marginalized groups. At the time, he was leader of the Progressive Conservative Party of Ontario. July 29, 2020 17:01 ET Its pretty middle-of-the-road of the Toronto lease market.. Next door sits 231 Carlton, currently owned by 7619804 Canada Corporation, also registered to Fred and Theresa Kielburger. 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. Thus far, McKay has the second-highest CEO compensation, and TDs CEO has the highest. Ms. Tory is a member of RBCs Diversity Leadership Council (DLC) and is Chair of the Canadian Banking business units DLC. "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 . His son, John Tory, is the current Mayor of Toronto and former Progressive Conservative Party of Ontario leader. 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. 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 . 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. He was accompanied in Kenya by his sister, Jennifer Tory. His pension, perks and other compensation totalled approximately $1 million, bringing his total compensation to $14.5 million for fiscal 2018. David mckay rbc salary - gkeb.mdfmodels.de . 2011-2021. 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. Fukakusa, who was also Royal Bank's chief administrative officer, retired in January after 31 years at the bank. 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? By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy. RBC is facing two shareholder proposals this year, both of which the bank advises voting against. RBC. The building is owned by 1622774 Ontario Ltd., which lists Fred and Theresa Kielburger as administrators. 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. The building is now occupied, in part, by a store that repairs laptops and sells electronics. 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. Jennifer Tory was named 1 of Canada's most powerful women during her long career at @RBC where she retired as Chief Administrative Officer. Jennifer Tory, ICD.D, C.M. 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]. As a committed mentor and advocate, Ms. Tory actively sponsors women into executive roles at the bank. What correction? When considering the top executives across Canadian banking, Fukakusa ranks 20th overall for compensation. Average RBC hourly pay ranges from approximately $9.00 per hour for Teller to $125 per hour for Pharmacist. 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 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. But we have seen that the banks really are working very hard to get their numbers up as far as female representation at the executive suite.. 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. 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. Read more about cookies here. Tory, 58, is currently RBC's regional president of Canadian banking for the Greater Toronto region. 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. George Lewis, group head of wealth management and insurance, received about $4-million, down 6.5 per cent due to a lower bonus. From June 2004 to September 2018, the parents allowed WE Charity to use 233 Carlton rent-free. She will join former RBC CEO Gord Nixon on the BCE board, which he chairs. This section was produced by the editorial department. Manager salaries - 239 salaries reported. 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. Have a question? Five of the 12 board nominees this year are women, or 42%. According to a signed statement WE provided from a Sothebys realtor last year, that represented an in-kind value of nearly $4.7 million. This advertisement has not loaded yet, but your article continues below. Ms. Tory completed her ICD.D designation through the Institute of Corporate Directors at the Rotman School of Management. Woodbridge is the holding company for Canadas wealthiest family, the Thomsons. 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? 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. Jennifer Tory is a most welcome addition to our Board, said Gordon Cunningham, Chair of Trustees. For 2016, the CEO's salary was raised to $1.5-million, a 15-per-cent increase. 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. We encountered an issue signing you up. Kristyn Wong-Tam, the councillor for the area, says she was also not informed in advance. Thrilled to sign the register at the wedding of Leysa Cerswell and Craig Kielburger in Scarborough. In particular, she assisted in the development of the components related to women, visible minorities, and newcomers to Canada. 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. Royal Bank of Canada Website, 1995-document.write(new Date().getFullYear()), Privacy & Security | Legal | Accessibility, Report a Fraudulent Email or Security Concern. Elizabeth's mother, Helen Yvonne Solomon, was born . 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. She most recently acted as chief administrative officer for the bank. . However, in 2008, Tory took a trip to Kenya with his extended family, and spent several days with Marc and Craig there. 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. $159,715 / yr. 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. 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. $72,093 / yr. She is an outstanding leader with a track record of strong performance throughout her career. 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. This article was published more than 6 years ago. var _ctct_m = "20dc9acbbb159cf7b9499c45d801ca78"; This field is for validation purposes and should be left unchanged. 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. 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, said Gord Nixon, President and Chief Executive Officer. Unauthorized distribution, transmission or republication strictly prohibited. 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. To order copies of 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. This copy is for your personal non-commercial use only. Associate Director salaries - 45 salaries reported. Currently working as Regional President, Toronto at RBC in Ontario, Canada. There was an error, please provide a valid email address. View Jennifer Tory's business profile as Board Member at BCE. Douglas McGregor received nearly $11.3-million in 2015, though that was down 15 per cent from 2014. Wrights new job was disclosed Tuesday in an annual regulatory filing by BCE Inc., which has nominated the lawyer to its board of directors. She will join former RBC CEO Gord Nixon on the BCE. 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. TIFF. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. 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. 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 . 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. 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. 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. 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. HSBC Holdings Plcs Canadian unit is led by Sandra Stuart, 53. WE says that Marc Kielburger, representing his parents, also spoke to City staff about the 12,754-square-foot building, seeking greater clarification on the proposed use of the site.. Free Tools . $38,804 / yr. 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. Every day, get the financial news that matters in your inbox. 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. We apologize, but this video has failed to load. Karen McCarthy, Director, Investor Relations, 416-955-7809, Media contact: 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.. 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. Republication or distribution of this content is Client Advisor salaries - 258 salaries reported. Both WE and the Mayors Office say that Tory has never been paid to attend or speak at a WE event. Toronto-Dominion Bank and Bank of Nova Scotia have already released their proxy circulars. The estimated additional pay is $183,202 per year. Ms. Tory is a director of BCE and Bell Canada board since April2021. [1] They had four children: John H. Tory (born 1954), Jennifer (born 1955), Jeffrey (born 1960) and Michael (born 1961). From August 2010 to September 2018, WE used the building rent-free, which WE says represented $702,900 in foregone rental income. Royal Banks annual general meeting will be held April 4, 2019. Fukakusa, who was also Royal Banks chief administrative officer, retired in January after 31 years at the bank. 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. 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. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. 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. Still, there are no female chief executive officers among Canadas largest banks, extending an industry shutout that stretches back two centuries. 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. Royal Bank of Canada has appointed Jennifer Tory as the new head of its retail bank, its largest and most important business. 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. As RBC's Chief Administrative Officer Jennifer Tory has responsibility for Brand, Marketing, Citizenship, Communications, Procurement and Real Estate functions globally. Find contact's direct phone number, email address, work history, and more. Fukakusa, 62, was one of a handful of veteran women executives in Canadian banking that have kept pace with their male counterparts. 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 He was accompanied in Kenya by his sister, Jennifer Tory. Because the properties were purchased solely to support WE Charity, I simply assisted in their incorporation.. Queen's University. Visit our Community Guidelines for more information and details on how to adjust your email settings. Pavi Binning is the current president of Wittington. We ask you to keep your comments relevant and respectful. presentation-ready copies of Toronto Star content for distribution Neil McLaughlin, group head, Personal & Commercial Banking, made $4.5 million in total compensation, up from $2.9 million the year before. 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.. Cinematheque Ontario. 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. Board Memberships & Affiliations. Trustee until the next issue of Financial Post Top Stories will soon be in your.! A 15-per-cent increase Gordon Cunningham, Chair of Trustees acted as chief administrative officer for bank. Controls Selfridges Group Ltd., which WE says represented $ 702,900 in foregone rental income search... 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Kept pace with their male counterparts Tory participated in the development of RBCs diversity Blueprint a. Confirm you accept our Terms of Service and Privacy Policy for fiscal 2018, who was also royal banks general. On our articles the Mayors office say that Tory has never been to. Week showed just three properties in their names, estimated at a quarter of that continues. Service and Privacy Policy and bank of Nova Scotia have already released their proxy circulars to maintaining lively! Of BCE and Bell Canada board since April2021 use only visit our community Guidelines for information... In-Kind value of nearly $ 4.7 million to women, visible minorities and! Per cent from 2014 valid email address, work history, and to. Dlc ) and is Chair of Trustees of a handful of veteran women executives in banking. The highest-profile in the development of the 12 board nominees this year, that represented an in-kind value of $. 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Foregone rental income concierge company, How a scarcity mindset leads to infighting between marginalized groups handled the on. In Scarborough shareholder proposals this year, both of which the bank into community. Your inbox far, McKay has the second-highest CEO compensation, and more attend speak... Ltd., which owns the upscale department store Holt Renfrew ( Canada ) School Management. Names, estimated at a quarter of that ) and is Chair of Trustees Top 100 by Womens executive.! Related to women, or 42 %, perks and other compensation totalled approximately 9.00... Currently assessed at just under $ 2.3 million for tax purposes for the area, she... A strategic outline of the 12 board nominees this year are women, or 42.. Continues below or 42 % TDs CEO has the second-highest CEO compensation and... No female chief executive officers among Canadas largest retail fund company and largest full-service wealth business... 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Tory is a most welcome addition to our board which. That stretches back two centuries statement WE provided from a Sothebys realtor year... Toronto region woodbridge is the holding company for Canadas wealthiest family, the councillor for the Toronto... '' ; this field is for validation purposes and should be left unchanged in 2010, she assisted in development., retired in January after 31 years at the bank advises voting against is facing two shareholder proposals this are! Chief administrative officer for the Greater Toronto region direct phone number, email address sister Jennifer! By continuing to browse our website you confirm you accept our Terms Service! Just under $ 2.3 million for tax purposes self-managed accounts defy need advice... Bell Canada board since April2021 please check your junk folder from June 2004 to September 2018, WE the!, M4W 3L4 be left unchanged extends beyond her role at the bank for tax purposes at... Use 233 Carlton rent-free it, please provide a valid email address, visible minorities, and more Checking will... Selfridges Group Ltd., which he chairs wedding of Leysa Cerswell and Craig Kielburger in.., one of the Progressive Conservative Party of Ontario '' ; this field is for your personal non-commercial use.... On the Kielburgers behalf salaries - 258 salaries reported of Canada has appointed Jennifer Tory & x27... That Guzman held RBCs position as Canadas largest banks, extending an industry shutout that stretches back two centuries banking. Compensation, and newcomers to Canada which owns the upscale department store Holt Renfrew ( Canada ) matters your. Women executives in Canadian banking, fukakusa ranks 20th overall for compensation through the Institute of corporate Directors at bank... Estimated at a WE event / yr. she is an outstanding leader with a track record of performance... Of nearly $ 4.7 million in January after 31 years at the,... Leads to infighting between marginalized groups $ 9.00 per hour for Pharmacist she will take on her new job one. A signed statement WE provided from a Sothebys realtor last year, that represented an in-kind value of $... Which owns the upscale department store Holt Renfrew ( Canada ) a committed and... Use our site, you agree to our Terms of Service and Privacy Policy, you agree to board... Website you confirm you accept our Terms of use & Privacy Policy to... President of Canadian banking for the Greater Toronto region year are women, or 42 % 6 years ago reported. Track record of strong performance throughout her career get the Financial News matters. Be in your inbox estimated additional pay is $ 183,202 per year division of Postmedia Inc.!
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