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. David mckay rbc salary - gkeb.mdfmodels.de . Jennifer Tory is a most welcome addition to our Board, said Gordon Cunningham, Chair of Trustees. Read more about cookies here. var _ctct_m = "20dc9acbbb159cf7b9499c45d801ca78"; This field is for validation purposes and should be left unchanged. 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. She has been a champion and trailblazer for the advancement of women, LGBTQ+ and BIPOC individuals in both the bank and the broader community. As a committed mentor and advocate, Ms. Tory actively sponsors women into executive roles at the bank. The company will hold its annual shareholder meeting via webcast on April 29, at which point the new directors are expected to be approved. All 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. 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. 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. $138,110 / yr. Analyst salaries - 222 salaries reported. Wittington also controls Selfridges Group Ltd., which owns the upscale department store Holt Renfrew (Canada). 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. There was an error, please provide a valid email address. His son, John Tory, is the current Mayor of Toronto and former Progressive Conservative Party of Ontario leader. Fukakusa, 62, was one of a handful of veteran women executives in Canadian banking that have kept pace with their male counterparts. 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. 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. 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.. We apologize, but this video has failed to load. Thrilled to sign the register at the wedding of Leysa Cerswell and Craig Kielburger in Scarborough. 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. Leads by Industry . Newspapers Limited, 8 Spadina Avenue, 10th Floor, Toronto, ON M5V 0S8, put its Weston Foods bakery business up for sale. To order Visit our Community Guidelines for more information and details on how to adjust your email settings. 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. 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. Ms. Tory is a director of BCE and Bell Canada board since April2021. Jennifer Tory has served as national co-chair of WE Day, and a now-deleted page on WEs website listed her as a Founding Family Champion. RBC is one of WE Charitys Founding Partners, but on Thursday The Globe and Mail reported that the bank is now reconsidering its relationship. 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. Ms. Tory has been with RBC for over 35 years, holding progressively senior roles including sales leadership, strategy, operations and human resources. Further, Guzman accelerated acquisition of new clients through launch of Premier Banking, increasing high-net-worth households, with 25% growth year-over-year.. His signature is on the articles of incorporation for 7619804 Canada Corporation, and he signed off on its most recent annual return. Have a question? $139,667 / yr. Jennifer Tory was named 1 of Canada's most powerful women during her long career at @RBC where she retired as Chief Administrative Officer. [1] They had four children: John H. Tory (born 1954), Jennifer (born 1955), Jeffrey (born 1960) and Michael (born 1961). Some information may no longer be current. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. Her responsibilities will include retail banking operations and certain retail . To order copies of RBC is facing two shareholder proposals this year, both of which the bank advises voting against. The banks are definitely playing a leadership role in Canada, Catalysts van Biesen said. 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. Fukakusa, who was also Royal Bank's chief administrative officer, retired in January after 31 years at the bank. According to a signed statement WE provided from a Sothebys realtor last year, that represented an in-kind value of nearly $4.7 million. 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. 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. 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. Five of the 12 board nominees this year are women, or 42%. McKays 2018 total direct compensation was $13.5 million, which was 13% above his targeted compensation and a 9% increase from 2017. Anyone can read Conversations, but to contribute, you should be a registered Torstar account holder. 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. We ask you to keep your comments relevant and respectful. The property is currently assessed at just under $2.3 million for tax purposes. The average RBC salary ranges from approximately $37,000 per year for Client Advisor to $200,000 per year for Business Manager. 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 . rights reserved. Companies only need to disclose compensation for all named executive officers, which include the CEO, CFO and each of the three most highly paid executives whose total compensation is above C$150,000, according to regulatory requirements. He was a witness at Craig Kielburgers 2016 wedding, and called Marc a friend in a 2014 tweet, a few weeks before he was elected mayor. Mayor John Tory, whose office says he was not involved in the lease, has a relationship with the WE co-founders. Jennifer Tory, ICD.D, C.M. Ms. Tory, who currently serves as regional president for Toronto of the Canadian banking operation, moves into her new job in April. 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. Allied Properties REIT. 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. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. 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 For 2016, the CEO's salary was raised to $1.5-million, a 15-per-cent increase. Queen's University. Janice Fukakusa, RBC's chief financial officer, received total compensation of about $5-million in 2015, up 1 per cent from 2014. What correction? 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. pic.twitter.com/l4xHoPe29R. Her passion for employees, clients, and community set her apart, noted Mr. McKay. RBC had the highest market cap of the Big Five banks for the period. 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.". Average RBC hourly pay ranges from approximately $9.00 per hour for Teller to $125 per hour for Pharmacist. Ms. 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. 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. 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. Still, there are no female chief executive officers among Canadas largest banks, extending an industry shutout that stretches back two centuries. 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. 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. 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. expressly prohibited without the prior written consent of Toronto If you don't see it, please check your junk folder. TIFF. 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. RBC employees rate the overall compensation and benefits . Ms. Jennifer Tory retired in 2019 as Royal Bank of Canada's Chief Administrative Officer. Comments may take up to an hour for moderation before appearing on the site. Web"/> . | Source: Client Associate salaries - 39 salaries reported. permissions/licensing, please go to: www.TorontoStarReprints.com. We encountered an issue signing you up. 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. 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. The next issue of Financial Post Top Stories will soon be in your inbox. 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 building is owned by 1622774 Ontario Ltd., which lists Fred and Theresa Kielburger as administrators. 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. 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. 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. 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. 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. The estimated base pay is $177,025 per year. Newcom Media Inc. We use cookies to make your website experience better. © 2023. representative then handled the deal on the Kielburgers behalf. Toronto-Dominion Bank and Bank of Nova Scotia have already released their proxy circulars. It previously served as WEs first headquarters and has been part of a sometimes significant real estate portfolio owned by Fred and Theresa Kielburger. Royal Banks annual general meeting will be held April 4, 2019. 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. Find contact's direct phone number, email address, work history, and more. Tory married Elizabeth (Liz) Bacon, a nurse, on May 15, 1953. Unauthorized distribution, transmission or republication strictly prohibited. Fukakusa, who was also Royal Banks chief administrative officer, retired in January after 31 years at the bank. She will join former RBC CEO Gord Nixon on the BCE. 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. Read more about cookies here. . About RBC > Media Newsroom > News Releases >RBC names Jennifer Tory as Group Head, Personal & Commercial Banking. About RBC WE says Fred and Theresa did not receive a tax receipt for either agreement. 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. to colleagues, clients or customers, or inquire about 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. 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. Follow David Berman on Twitter: @dberman_ROBOpens in a new window, Checking box will enable automatic data updates. Thus far, McKay has the second-highest CEO compensation, and TDs CEO has the highest. 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. Tory, 58, is currently RBC's regional president of Canadian banking for the Greater Toronto region. In 2010, she was named one of Canadas Most Powerful Women: Top 100 by Womens Executive Network. 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.. Kristyn Wong-Tam, the councillor for the area, says she was also not informed in advance. Karen McCarthy, Director, Investor Relations, 416-955-7809, Media contact: 1978-2019. 2011-2021. Still, Mr. McKay's compensation was again eclipsed by the bank's group head of capital markets. $159,715 / yr. Rod Bolger, chief financial officer, made $4.4 million in total compensation in 2018, up from $3.7 million the year before. 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. 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. 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.. At the time, he was leader of the Progressive Conservative Party of Ontario. var CurrentYear = new Date().getFullYear() 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. The lease started on January 1. There was an error, please provide a valid email address. This advertisement has not loaded yet, but your article continues below. Ms. Tory has been instrumental in the advancement of women and other diverse groups at RBC - where diversity is a long-standing core value. She discusses the "Not only did we do a safari, but we spent four days with Marc and Craig Kielburger and Free The Children," Jennifer . 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. July 29, 2020 17:01 ET 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]. 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. Find Jennifer Tory's accurate email address and contact/phone number in Adapt.io. He was accompanied in Kenya by his sister, Jennifer Tory. Toronto-Dominion Bank and Bank of Nova Scotia have already released their proxy circulars. RBC. 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. Star Newspapers Limited and/or its licensors. 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. The board attributes this to, among other things, RBC maintaining its number-one market share in Canadian mutual fund assets under management and the success of the firms continued U.S. expansion. 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. Ms. Tory was an active and vocal proponent of diversity and inclusion, long before . 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. Allieds business is providing knowledge-based organizations with distinctive urban environments for creativity and connectivity. $60,499 / yr. 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. George Lewis, group head of wealth management and insurance, received about $4-million, down 6.5 per cent due to a lower bonus. For more information, please visit rbc.com. presentation-ready copies of Toronto Star content for distribution Comments may take up to an hour for moderation before appearing on the site. 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. Representative then handled the deal on the BCE to an hour for moderation before appearing on the site Canadas banks! Validation purposes and should be a registered Torstar account holder for Pharmacist > News >. 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