Woodbridge is the holding company for Canadas wealthiest family, the Thomsons. Both WE and the Mayors Office say that Tory has never been paid to attend or speak at a WE event. Ms. Tory was an active and vocal proponent of diversity and inclusion, long before . Read more about cookies here. Unauthorized distribution, transmission or republication strictly prohibited. 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. Theres still a long way to go, Tanya van Biesen, executive director of Catalyst Canada, an organization that promotes women in the workplace, said in an interview. About RBC All rights reserved. Visit our Community Guidelines for more information and details on how to adjust your email settings. Board Member. 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.. 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. . Newcom Media Inc. We use cookies to make your website experience better. 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. Along with other members of Group Executive, Jennifer is responsible for setting the overall strategic direction of RBC. Tory has also appeared at WE Day and on stage when WE opened its Global Learning Centre, a standout building in Torontos Corktown neighbourhood that WE opened in 2017. Pavi Binning is the current president of Wittington. 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.. [1] They had four children: John H. Tory (born 1954), Jennifer (born 1955), Jeffrey (born 1960) and Michael (born 1961). 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. Jennifer Tory is a most welcome addition to our Board, said Gordon Cunningham, Chair of Trustees. WE says Fred and Theresa did not receive a tax receipt for either agreement. 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 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. Comments may take up to an hour for moderation before appearing on the site. Have a question? A request for the bank to disclose the equity ratio used by the compensation committee in its compensation-setting process. We encountered an issue signing you up. RBC is facing two shareholder proposals this year, both of which the bank advises voting against. Associate salaries - 271 salaries reported. $60,499 / yr. Ms. Tory completed her ICD.D designation through the Institute of Corporate Directors at the Rotman School of Management. She will hold office as a Trustee until the next annual meeting of unitholders or until her successor is elected or appointed. Royal Bank of Canada has appointed Jennifer Tory as the new head of its retail bank, its largest and most important business. As a committed mentor and advocate, Ms. Tory actively sponsors women into executive roles at the bank. Ms. Tory is a director of BCE and Bell Canada board since April2021. Janice Fukakusa, RBC's chief financial officer, received total compensation of about $5-million in 2015, up 1 per cent from 2014. 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. 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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. 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. 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. 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]. 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. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. Cinematheque Ontario. 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. presentation-ready copies of Toronto Star content for distribution Mayor John Tory, whose office says he was not involved in the lease, has a relationship with the WE co-founders. 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. 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. For more information, please visit rbc.com. personal and corporate concierge company, How a scarcity mindset leads to infighting between marginalized groups. 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. Prior to her current role, she was Senior Vice President of Operations for Canadian Banking RBC. 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.. Average RBC hourly pay ranges from approximately $9.00 per hour for Teller to $125 per hour for Pharmacist. Ms. Tory joined RBC in 1978. The next issue of Financial Post Top Stories will soon be in your inbox. Some information may no longer be current. 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. The company will hold its annual shareholder meeting via webcast on April 29, at which point the new directors are expected to be approved. 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. The lease started on January 1. Wrights new job was disclosed Tuesday in an annual regulatory filing by BCE Inc., which has nominated the lawyer to its board of directors. 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. 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. | Source: 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. The next issue of Financial Post Top Stories will soon be in your inbox. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. 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.. However, in 2008, Tory took a trip to Kenya with his extended family, and spent several days with Marc and Craig there. Wright has been a partner at Torys for more than a decade and is chair of the firms corporate department. From June 2004 to September 2018, the parents allowed WE Charity to use 233 Carlton rent-free. Still, Mr. McKay's compensation was again eclipsed by the bank's group head of capital markets. 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. Jennifer Tory was named 1 of Canada's most powerful women during her long career at @RBC where she retired as Chief Administrative Officer. Tory, 58, is currently RBC's regional president of Canadian banking for the Greater Toronto region. 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. About RBC > Media Newsroom > News Releases >RBC names Jennifer Tory as Group Head, Personal & Commercial Banking. 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? Manager salaries - 239 salaries reported. A request that the bank create a new technologies committee. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. 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. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Ms. Tory will move into the position left vacant by Dave McKay, who takes over as RBCs chief executive effective Feb 26, the same day as the banks annual meeting in Toronto. $38,804 / yr. Her commitment to advancing women and diversity extends beyond her role at the bank into her community. The estimated base pay is $177,025 per year. Anyone can read Conversations, but to contribute, you should be a registered Torstar account holder. As a committed mentor and advocate, Ms. Tory actively sponsors women into executive roles at the bank. Allied Properties REIT July 29, 2020 17:01 ET 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. Shareholders also withdrew four shareholder proposals: three related to environmental issues and one related to workforce metrics. 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. The banks are definitely playing a leadership role in Canada, Catalysts van Biesen said. Allieds business is providing knowledge-based organizations with distinctive urban environments for creativity and connectivity. 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 . 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.. Education. 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. Ms. Tory is a member of RBCs Diversity Leadership Council (DLC) and is Chair of the Canadian Banking business units DLC. $159,715 / yr. 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. 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