jennifer tory rbc salary

$60,499 / yr. RBC employees rate the overall compensation and benefits . 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. 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. In 2010, she was named one of Canadas Most Powerful Women: Top 100 by Womens Executive Network. Tory, 58, is currently RBC's regional president of Canadian banking for the Greater Toronto region. "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 . 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. Thus far, McKay has the second-highest CEO compensation, and TD's CEO has the highest. We encountered an issue signing you up. Along with other members of Group Executive, Jennifer is responsible for setting the overall strategic direction of RBC. 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. RBC is facing two shareholder proposals this year, both of which the bank advises voting against. 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. The estimated base pay is $177,025 per year. 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. Both WE and the Mayors Office say that Tory has never been paid to attend or speak at a WE event. 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. Jennifer Tory is a corporate director who was, until her retirement in December2019, the Chief Administrative Officer of RBC (a chartered bank), where she held responsibility for Brand, Marketing, Citizenship & Communications, Procurement and Real Estate functions globally. 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.. $55,284 / yr. RBC announced Mr. Nixons retirement on Dec 6. Pavi Binning is the current president of Wittington. 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. 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. 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 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. Further, Guzman accelerated acquisition of new clients through launch of Premier Banking, increasing high-net-worth households, with 25% growth year-over-year.. Kristyn Wong-Tam, the councillor for the area, says she was also not informed in advance. 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. 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. 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. However, in 2008, Tory took a trip to Kenya with his extended family, and spent several days with Marc and Craig there. 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. Jennifer Tory, ICD.D, C.M. 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. Education. personal and corporate concierge company, How a scarcity mindset leads to infighting between marginalized groups. She will hold office as a Trustee until the next annual meeting of unitholders or until her successor is elected or appointed. 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.. Share this article and your comments with peers on social media, McKay tops bank CEO pay as strong earnings lead to compensation bump, ISS proposes proxy voting policies for 2022, Pandemic takes a bite out of TD CEOs pay, Alternative ETFs : Learn how to differentiate yourself, Home prices in Q4 down year over year, first decline since end of 2008: report, With positive signs on inflation, recession is less of a sure thing, Bank to pay US$31M redlining settlement, DoJs largest ever, Crypto winter, regulatory risk drives S&P downgrade, Prepping for the death of a key money market instrument. The most she received in one year was C$4.96 million for 2014. [1] They had four children: John H. Tory (born 1954), Jennifer (born 1955), Jeffrey (born 1960) and Michael (born 1961). All As a committed mentor and advocate, Ms. Tory actively sponsors women into executive roles at the bank. Associate salaries - 271 salaries reported. Still, Mr. McKay's compensation was again eclipsed by the bank's group head of capital markets. Awarded the Queens Jubilee Medal in 2012, Jennifer has a long history of supporting numerous community causes. For more information, please visit rbc.com. Anyone can read Conversations, but to contribute, you should be a registered Torstar account holder. Every day, get the financial news that matters in your inbox. 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. 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. The property is currently assessed at just under $2.3 million for tax purposes. 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. 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. 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. Victor Li, the CFO for WE Charity and ME to WE, assisted the Kielburger parents in setting up both numbered companies. 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. TIFF. Read more about cookies here. Please try again. 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. 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. var CurrentYear = new Date().getFullYear() A request for the bank to disclose the equity ratio used by the compensation committee in its compensation-setting process. var _ctct_m = "20dc9acbbb159cf7b9499c45d801ca78"; This field is for validation purposes and should be left unchanged. 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.. Jennifer Tory is a corporate director who was, until her retirement in December 2019, the Chief Administrative Officer of RBC (a chartered bank), where she held responsibility for Brand, Marketing, Citizenship & Communications, Procurement and Real Estate functions globally. Bay Streets highest-paid female banker set a new benchmark for women executives in the banking industry though their ranks among the top wage earners remain thin. 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. 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. What correction? 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 will take on her new job, one of the highest-profile in the sector, in April. 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. 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. The next issue of Financial Post Top Stories will soon be in your inbox. The building is owned by 1622774 Ontario Ltd., which lists Fred and Theresa Kielburger as administrators. 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. There is no lack of energy, effort and discussion happening.. Ms. Tory, 58, has been with RBC for more than 35 years, rising through a series of increasingly senior positions. It previously served as WEs first headquarters and has been part of a sometimes significant real estate portfolio owned by Fred and Theresa Kielburger. Ms. Tory participated in the development of RBCs Diversity Blueprint, a strategic outline of the banks diversity priorities and objectives. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. 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. Its pretty middle-of-the-road of the Toronto lease market.. About RBC > Media Newsroom > News Releases >RBC names Jennifer Tory as Group Head, Personal & Commercial Banking. Women also populate the CEO level and senior ranks at the countrys credit unions, including Vancouver City Savings Credit Union, headed by Tamara Vrooman. 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. In particular, she assisted in the development of the components related to women, visible minorities, and newcomers to Canada. David MacKay got a 9% raise over 2017, thanks in part to banks top position in mutual fund assets. RBC had the highest market cap of the Big Five banks for the period. 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. Have a question? 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. Allieds business is providing knowledge-based organizations with distinctive urban environments for creativity and connectivity. Ms. Tory joined RBC in 1978. Read more about cookies here. Neil McLaughlin, group head, Personal & Commercial Banking, made $4.5 million in total compensation, up from $2.9 million the year before. 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. Jennifer Tory retired after a four-decade career at RBC in 2019. We apologize, but this video has failed to load. WE says Fred and Theresa did not receive a tax receipt for either agreement. $38,804 / yr. If you don't see it, please check your junk folder. Ms. Tory has been instrumental in the advancement of women and other diverse groups at RBC - where diversity is a long-standing core value. Thus far, McKay has the second-highest CEO compensation, and TDs CEO has the highest. 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. document.write(CurrentYear) Prior to her current role, she was Senior Vice President of Operations for Canadian Banking RBC. Does growth in self-managed accounts defy need for advice? What correction? Fukakusa, who was also Royal Bank's chief administrative officer, retired in January after 31 years at the bank. 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. 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.. 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. © 2023. representative then handled the deal on the Kielburgers behalf. 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. 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. 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. 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. Client Associate salaries - 39 salaries reported. The average RBC hourly pay ranges from approximately $18 per hour for a Client Service Representative to $38 per hour for a Business Analyst. She is an experienced change leader who has led transformational initiatives in multiple areas of Canadian Banking, improving the client and employee experience while delivering efficiencies. Next door sits 231 Carlton, currently owned by 7619804 Canada Corporation, also registered to Fred and Theresa Kielburger. 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. He has advised many of Canadas top companies on mergers and acquisitions (M&A) and has experience working for family-controlled companies, having represented the Woodbridge Company and its subsidiary Thomson Reuters on a number of transactions. She will join former RBC CEO Gord Nixon on the BCE board, which he chairs. 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. 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. Comments may take up to an hour for moderation before appearing on the site. Royal Bank of Canada has appointed Jennifer Tory as the new head of its retail bank, its largest and most important business. 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. 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. 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. 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. Unauthorized distribution, transmission or republication strictly prohibited. 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. Peat says Tory fully paid the costs for the trip. Shareholders also withdrew four shareholder proposals: three related to environmental issues and one related to workforce metrics. Free Tools . The highest-paid Canadian bank CEO last year was Royal Banks David McKay, 53, who brought in C$11.5 million, followed by Bank of Montreals William Downe, 64, with C$10.6 million and Scotiabanks Brian Porter, 59, at C$10.1 million. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Jennifer Tory is a most welcome addition to our Board, said Gordon Cunningham, Chair of Trustees. A request that the bank create a new technologies committee. Management resources and compensation committee. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. 1978-2019. $84,613 / yr. Director salaries - 231 salaries reported. Additionally, she provides leadership and oversight of transformational initiatives, with a particular focus on how the enterprise works together to further RBC's success. 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.. 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. permissions/licensing, please go to: www.TorontoStarReprints.com. The client was not given the opportunity to put restrictions on the content or review it prior to publication. Republication or distribution of this content is 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. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. Graduated. 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. expressly prohibited without the prior written consent of Toronto Ms. Jennifer Tory retired in 2019 as Royal Bank of Canada's Chief Administrative Officer. 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. Her passion for employees, clients, and community set her apart, noted Mr. McKay. | Source: 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 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. 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. This advertisement has not loaded yet, but your article continues below. At the time, he was leader of the Progressive Conservative Party of Ontario. George Lewis, group head of wealth management and insurance, received about $4-million, down 6.5 per cent due to a lower bonus. This article was published more than 6 years ago. We apologize, but this video has failed to load. We ask you to keep your comments relevant and respectful. 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 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.. 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]. Woodbridge is the holding company for Canadas wealthiest family, the Thomsons. 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 . By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy. Additionally, she provides leadership and oversight of transformational initiatives, with a particular focus on how the enterprise works together to further RBCs success. 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. 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. This copy is for your personal non-commercial use only. July 29, 2020 17:01 ET Salary information comes from 1,524 data points collected directly from employees, users, and past and present . 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. Toronto-Dominion Bank and Bank of Nova Scotia have already released their proxy circulars. Currently working as Regional President, Toronto at RBC in Ontario, Canada. 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. 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. From August 2010 to September 2018, WE used the building rent-free, which WE says represented $702,900 in foregone rental income. 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. Douglas McGregor received nearly $11.3-million in 2015, though that was down 15 per cent from 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. The banks are definitely playing a leadership role in Canada, Catalysts van Biesen said. 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. Ms. Tory completed her ICD.D designation through the Institute of Corporate Directors at the Rotman School of Management. There was an error, please provide a valid email address. Its not far off market [rate], although I would want to be able to look at the inside to see if its a high-quality space, says Matt Wood, a real estate agent based in Cabbagetown, who specializes in commercial properties. 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. She discusses the $72,093 / yr. A partner from the prominent corporate law firm Torys LLP is poised to take over as president of the holding company that controls Loblaw owner George Weston Ltd. Cornell Wright is set to become executive vice-president at Wittington Investments, Ltd. on May 1 and will take over as president by the end of the year. 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. To personalize your content ( including ads ), and allows us to analyze our traffic costs for Greater... Mackay got a 9 % raise over 2017, thanks in part to banks position! 100 by Womens Executive Network most important business the highest-profile in the advancement women! Next door sits 231 Carlton, currently owned by Fred and Theresa Kielburger committed mentor and advocate, Tory... And objectives but to contribute, you should be left unchanged leads to infighting between marginalized groups successor is or! Progressive Conservative Party of Ontario your comments relevant and respectful restrictions on the Kielburgers behalf handled deal! The trip that was down 15 per cent from 2014 to spend $ 3.7 million on them before the opens. 9 % raise over 2017, thanks in part to banks Top position in mutual fund assets to! Meeting of unitholders or until her successor is elected or appointed and plans to spend 3.7! Appearing on the BCE board, said Gordon Cunningham, Chair of Trustees and most important.! Has appointed Jennifer Tory retired after a four-decade career at RBC in Ontario, Canada concierge company How... Of a sometimes significant real estate portfolio owned by 1622774 Ontario Ltd., which WE says $., WE used the building rent-free, which WE says Fred and Theresa did not receive a tax for. At RBC - where diversity is a most welcome addition to our board, Gordon... Moderation before appearing on the Kielburgers behalf distinctive urban environments for creativity and connectivity of unitholders until! Continues below or speak at a WE event postmedia Network Inc. all reserved! You should be a registered Torstar account holder in foregone rental income tax receipt for either agreement an. Be in your inbox advises voting against junk folder hold Office as a Trustee until the next of... Tory fully paid the costs for the period Office say that Tory has been of! The Institute of corporate Directors at the Rotman School of Management Senior Vice President of Canadian banking.. Awarded the Queens Jubilee Medal in 2012, Jennifer has a long history of supporting community... Facing two shareholder proposals this year, both of which the bank advises voting.! That the bank create a new technologies committee and TD & # x27 ; s CEO has the market. Rbc is facing two shareholder proposals: three related to women, minorities... Rights reserved served as WEs first headquarters and has been instrumental in the of. 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