McKays 2018 total direct compensation was $13.5 million, which was 13% above his targeted compensation and a 9% increase from 2017. 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. The estimated base pay is $177,025 per year. 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. 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. 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 Thus far, McKay has the second-highest CEO compensation, and TD's CEO has the highest. The property is currently assessed at just under $2.3 million for tax purposes. 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. She most recently acted as chief administrative officer for the bank. . Please try again. Both WE and the Mayors Office say that Tory has never been paid to attend or speak at a WE event. Republication or distribution of this content is 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. Wrights new job was disclosed Tuesday in an annual regulatory filing by BCE Inc., which has nominated the lawyer to its board of directors. A request for the bank to disclose the equity ratio used by the compensation committee in its compensation-setting process. View Jennifer Tory's business profile as Board Member at BCE. 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. Allieds business is providing knowledge-based organizations with distinctive urban environments for creativity and connectivity. 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. The next issue of Financial Post Top Stories will soon be in your inbox. Fukakusa, who was also Royal Bank's chief administrative officer, retired in January after 31 years at the bank. These positions allow her to significantly influence and impact the banks diversity agenda, plans, and goals. permissions/licensing, please go to: www.TorontoStarReprints.com. She most recently acted as chief administrative officer for the bank. Neil McLaughlin, group head, Personal & Commercial Banking, made $4.5 million in total compensation, up from $2.9 million the year before. The estimated total pay for a Director at RBC is $360,228 per year. Average RBC hourly pay ranges from approximately $9.00 per hour for Teller to $125 per hour for Pharmacist. Jennifer Tory retired after a four-decade career at RBC in 2019. A recipient of the 2011 Catalyst Canada Honour for championing women in business, Jennifer has been recognized by Womens Executive Network (WXN) as one of Canadas Most Powerful Women: Top 100 and was inducted into the WXN Hall of Fame in 2017. She has been acknowledged both internally and externally for her leadership in diversity and received a number of awards, including a Harry Jerome Award in 2013 and the Leading Executive Ally Award by Start Proud (formerly Out on Bay) in 2016. Some information may no longer be current. var CurrentYear = new Date().getFullYear() Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. In particular, she assisted in the development of the components related to women, visible minorities, and newcomers to Canada. Allied Properties REIT. 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. HSBC Holdings Plcs Canadian unit is led by Sandra Stuart, 53. 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. After more than a decade of leadership positions within the company, Pavi Binning has decided to retire from his role effective Jan. 1, 2022, Wittington said in an emailed statement Tuesday. Royal Bank of Canada has appointed Jennifer Tory as the new head of its retail bank, its largest and most important business. 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 . Thus far, McKay has the second-highest CEO compensation, and TDs CEO has the highest. The most she received in one year was C$4.96 million for 2014. 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. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. She will report to Mr. McKay and will become a member of RBCs Group Executive, which is responsible for setting the overall strategic direction of the bank. 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.. Its pretty middle-of-the-road of the Toronto lease market.. The City said renovations have not started yet. 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. David MacKay got a 9% raise over 2017, thanks in part to banks top position in mutual fund assets. Rod Bolger, chief financial officer, made $4.4 million in total compensation in 2018, up from $3.7 million the year before. Ms. Jennifer Tory retired in 2019 as Royal Bank of Canada's Chief Administrative Officer. Others include Jennifer Tory, also of Royal Bank, who earned C$4.29 million as group head of personal and commercial banking; Toronto-Dominion Banks Colleen Johnston, 58, who brought in C$3.1 million; and Diane Giard, 56, of National Bank of Canada who made C$2.84 million. 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. His signature is on the articles of incorporation for 7619804 Canada Corporation, and he signed off on its most recent annual return. We ask you to keep your comments relevant and respectful. Education. $138,110 / yr. Analyst salaries - 222 salaries reported. 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.. 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. 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. A representative then handled the deal on the Kielburgers behalf. 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. 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. Ms. Tory, 58, has been with RBC for more than 35 years, rising through a series of increasingly senior positions. George Lewis, group head of wealth management and insurance, received about $4-million, down 6.5 per cent due to a lower bonus. 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. This copy is for your personal non-commercial use only. Ms. Tory is a director of BCE and Bell Canada board since April2021. Douglas McGregor received nearly $11.3-million in 2015, though that was down 15 per cent from 2014. 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. 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. 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]. For more information, please visit rbc.com. Jennifer Tory retired after a four-decade career at RBC in 2019. Find contact's direct phone number, email address, work history, and more. 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. 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. 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. 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? In 2010, she was named one of Canadas Most Powerful Women: Top 100 by Womens Executive Network. 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. 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. 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. Asked about the nature of Torys relationship with Marc and Craig, Don Peat, the mayors communications director, says he was a volunteer in support of the Kielburgers charitable endeavours before being elected. 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. 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. Client Advisor salaries - 258 salaries reported. 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.. 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. TIFF. There is no lack of energy, effort and discussion happening.. As RBCs Chief Administrative Officer Jennifer Tory has responsibility for Brand, Marketing, Citizenship, Communications, Procurement and Real Estate functions globally. 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. 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.. Janice Fukakusa, RBC's chief financial officer, received total compensation of about $5-million in 2015, up 1 per cent from 2014. Top image: a September 2019 Google Street View photo of 233 and 231 Carlton Street. The average RBC hourly pay ranges from approximately $18 per hour for a Client Service Representative to $38 per hour for a Business Analyst. In another connection to Rogers, Jennifer Torys brother John was a long-time executive at the company before entering politics and is a trustee of the Rogers family trust. Widespread shortage of homes in Canada: Royal LePage president, The "holy grail" of a soft landing is back in play, The department says City National avoided underwriting mortgages in majority Black and Latino neighborhoods, Coinbase rating cut on drop in trading volume, retail interest, Dorothy Sanford, former head of MFDA IPC, heads new investor group, Bankers' Acceptances, which represent 20% of money market, expected to disappear in 2024, Quebec's top regulator will leave the agency after 17 years, including 10 at the helm, Tech, profound shocks have changed investor behaviour. It previously served as WEs first headquarters and has been part of a sometimes significant real estate portfolio owned by Fred and Theresa Kielburger. This city might have the strongest housing market in Canada, BMO gets green light to buy Bank of the West in biggest deal ever for Canadian bank, A mental health crisis in Canada is fuelling billions in losses for employers, Janice Fukakusa, Royal Bank of Canada's former chief financial officer, was the highest paid woman among the country's eight largest lenders in fiscal 2016, bringing in C$4.67 million, Discover how Canadian businesses are embracing sustainability, Helping you build a more sustainable business, Royal Bank chief financial officer Janice Fukakusa to retire after 31 years at Canadas biggest bank, Royal Bank of Canada eyeing more expansion in U.S. after US$5-billion City National deal, tap here to see other videos from our team. Graduated. Toronto-Dominion Bank and Bank of Nova Scotia have already released their proxy circulars. Newspapers Limited, 8 Spadina Avenue, 10th Floor, Toronto, ON M5V 0S8, put its Weston Foods bakery business up for sale. Cinematheque Ontario. 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. 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. About RBC Anyone can read Conversations, but to contribute, you should be a registered Torstar account holder. 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. 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 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. Read more about cookies here. 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. Unauthorized distribution, transmission or republication strictly prohibited. Wright has been a partner at Torys for more than a decade and is chair of the firms corporate department. 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. Read more about cookies here. There was an error, please provide a valid email address. Ms. Tory has been instrumental in the advancement of women and other diverse groups at RBC - where diversity is a long-standing core value. This advertisement has not loaded yet, but your article continues below. His son, John Tory, is the current Mayor of Toronto and former Progressive Conservative Party of Ontario leader. Royal Bank of Canada has appointed Jennifer Tory as the new head of its retail bank, its largest and most important business. RBC. Jennifer Tory, ICD.D, C.M. The top paid investment-banking head was Royal Banks Doug McGregor, 60, who received C$10 million as group head of capital markets and investor and treasury services. TORONTO, July 29, 2020 (GLOBE NEWSWIRE) -- Allied Properties Real Estate Investment Trust (Allied) (TSX:AP.UN) announced today that Jennifer Tory has been appointed as a trustee of Allied (a Trustee) by the Trustees. Her responsibilities will include retail banking operations and certain retail . That involvement ceased when he became Mayor, though he has, as Mayor, attended a number of events directly or indirectly related to those charitable and community endeavours, Peat says. Five of the 12 board nominees this year are women, or 42%. 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. Board Member. $60,499 / yr. Comments may take up to an hour for moderation before appearing on the site. RBC had the highest market cap of the Big Five banks for the period. Registered Client Associate salaries - 49 salaries reported. 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. 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). 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.. To order However, in 2008, Tory took a trip to Kenya with his extended family, and spent several days with Marc and Craig there. The building is owned by 1622774 Ontario Ltd., which lists Fred and Theresa Kielburger as administrators. Kristyn Wong-Tam, the councillor for the area, says she was also not informed in advance. Newcomers to Canada be in your inbox paid to attend or speak at a WE.. 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