However, in 2008, Tory took a trip to Kenya with his extended family, and spent several days with Marc and Craig there. Ms. 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. A representative then handled the deal on the Kielburgers behalf. 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. Under Mr. McKay's leadership, RBC's profit topped $10-billion in 2015 and eclipsed Toronto-Dominion bank in terms of total assets in the first quarter of this year a notable achievement given that one of RBC's strategic goals is to be Canada's "undisputed leader in financial services.". About RBC > Media Newsroom > News Releases >RBC names Jennifer Tory as Group Head, Personal & Commercial Banking. Jennifer Tory was named 1 of Canada's most powerful women during her long career at @RBC where she retired as Chief Administrative Officer. 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. Next door sits 231 Carlton, currently owned by 7619804 Canada Corporation, also registered to Fred and Theresa Kielburger. Still, Mr. McKay's compensation was again eclipsed by the bank's group head of capital markets. The company will hold its annual shareholder meeting via webcast on April 29, at which point the new directors are expected to be approved. The banks are definitely playing a leadership role in Canada, Catalysts van Biesen said. Client Associate salaries - 39 salaries reported. TIFF. 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. Have a question? Star Newspapers Limited and/or its licensors. 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.. Every day, get the financial news that matters in your inbox. Royal Bank of Canada has appointed Jennifer Tory as the new head of its retail bank, its largest and most important business. Further, Guzman accelerated acquisition of new clients through launch of Premier Banking, increasing high-net-worth households, with 25% growth year-over-year.. She will join former RBC CEO Gord Nixon on the BCE board, which he chairs. 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.. Anyone can read Conversations, but to contribute, you should be a registered Torstar account holder. Board Member. Fukakusa, 62, was one of a handful of veteran women executives in Canadian banking that have kept pace with their male counterparts. 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. 1978-2019. According to a signed statement WE provided from a Sothebys realtor last year, that represented an in-kind value of nearly $4.7 million. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy. 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. 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 . Ms. Tory participated in the development of RBCs Diversity Blueprint, a strategic outline of the banks diversity priorities and objectives. 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. 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. to colleagues, clients or customers, or inquire about Ms. Tory will move into the position left vacant by Dave McKay, who takes over as RBC's chief executive effective Feb 26, the same day as the bank's annual meeting in Toronto. In Canada, there are also no women overseeing investment-banking divisions , whose heads tend to command the highest pay packages after CEOs. Comments may take up to an hour for moderation before appearing on the site. 2017-2021 . Find Jennifer Tory's accurate email address and contact/phone number in Adapt.io. 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. 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. $72,093 / yr. Board Memberships & Affiliations. Both WE and the Mayors Office say that Tory has never been paid to attend or speak at a WE event. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. This article was published more than 6 years ago. Newcom Media Inc. We use cookies to make your website experience better. 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. 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. This copy is for your personal non-commercial use only. What correction? Awarded the Queens Jubilee Medal in 2012, Jennifer has a long history of supporting numerous community causes. 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.. David MacKay got a 9% raise over 2017, thanks in part to banks top position in mutual fund assets. RBC. 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.. Rod Bolger, chief financial officer, made $4.4 million in total compensation in 2018, up from $3.7 million the year before. Fukakusa, who was also Royal Banks chief administrative officer, retired in January after 31 years at the bank. To order Jennifer Tory retired after a four-decade career at RBC in 2019. 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. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. All rights reserved. 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. 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. Visit our Community Guidelines for more information and details on how to adjust your email settings. She discusses the $159,715 / yr. var _ctct_m = "20dc9acbbb159cf7b9499c45d801ca78"; This field is for validation purposes and should be left unchanged. Ms. Tory, 58, has been with RBC for more than 35 years, rising through a series of increasingly senior positions. 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. The building is now occupied, in part, by a store that repairs laptops and sells electronics. 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. "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. RBC had the highest market cap of the Big Five banks for the period. Royal Bank of Canada has appointed Jennifer Tory as the new head of its retail bank, its largest and most important business. Scotiabanks Ignacio Nacho Deschamps received the most among all executives with C$12.75 million in compensation as group head of international banking and digital transformation though that included a C$5.7 million sign-on award. 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. The next issue of Financial Post Top Stories will soon be in your inbox. Unauthorized distribution, transmission or republication strictly prohibited. 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. For more information, please visit rbc.com. 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. Kristyn Wong-Tam, the councillor for the area, says she was also not informed in advance. 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. . Toronto-Dominion Bank and Bank of Nova Scotia have already released their proxy circulars. 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. The average RBC hourly pay ranges from approximately $18 per hour for a Client Service Representative to $38 per hour for a Business Analyst. Additionally, she provides leadership and oversight of transformational initiatives, with a particular focus on how the enterprise works together to further RBC's success. 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.. Cinematheque Ontario. Pavi Binning is the current president of Wittington. The most she received in one year was C$4.96 million for 2014. She will take on her new job, one of the highest-profile in the sector, in April. 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. Prior to her current role, she was Senior Vice President of Operations for Canadian Banking RBC. Mayor John Tory, whose office says he was not involved in the lease, has a relationship with the WE co-founders. When considering the top executives across Canadian banking, Fukakusa ranks 20th overall for compensation. Please try again. Ms. Tory completed her ICD.D designation through the Institute of Corporate Directors at the Rotman School of Management. Allied Properties REIT. RBC announced Mr. Nixons retirement on Dec 6. 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. 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: 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 McGregor received nearly $11.3-million in 2015, though that was down 15 per cent from 2014. 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. 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. Awarded the Queen's Jubilee Medal in 2013, Tory has a long history of supporting numerous community causes. $139,667 / yr. Because the properties were purchased solely to support WE Charity, I simply assisted in their incorporation.. Having started her career with the Royal Bank of Canada in 1978, Ms. Tory held successively senior leadership roles, including as Group Head, Personal & Commercial Banking responsible for RBC's banking businesses in Canada and the Caribbean from April 2014 until May 2017. Queen's University. In 2010, she was named one of Canadas Most Powerful Women: Top 100 by Womens Executive Network. 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. Ms. Tory, who currently serves as regional president for Toronto of the Canadian banking operation, moves into her new job in April. Jennifer Tory, ICD.D, C.M. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. 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. Royal Banks annual general meeting will be held April 4, 2019. Her commitment to advancing women and diversity extends beyond her role at the bank into her community. The next issue of Financial Post Top Stories will soon be in your inbox. 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. 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. Wojtek Dabrowski, Director, P&CB Communications, 416-974-3718, Royal Bank of Canada Website, 1995-document.write(new Date().getFullYear()), Privacy & Security | Legal | Accessibility, RBC names Jennifer Tory as Group Head, Personal & Commercial Banking. The City said renovations have not started yet. Along with other members of Group Executive, Jennifer is responsible for setting the overall strategic direction of RBC. 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. Royal Bank of Canada Website, 1995-document.write(new Date().getFullYear()), Privacy & Security | Legal | Accessibility, Report a Fraudulent Email or Security Concern. Investor contact: 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. About Jennifer Tory. 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 . 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. Of nearly $ 4.7 million sits 231 Carlton, currently owned by 7619804 Canada Corporation, also registered Fred! Our website you confirm you accept our Terms of use & Privacy Policy Toronto... Fukakusa, who was also not informed in advance the Rotman School of.! Was down 15 per cent from 2014 history of supporting numerous community causes your website experience better are also women! 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