Some information may no longer be current. 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. Please try again. 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. Jennifer Tory is a most welcome addition to our Board, said Gordon Cunningham, Chair of Trustees. Shareholders also withdrew four shareholder proposals: three related to environmental issues and one related to workforce metrics. We encountered an issue signing you up. His pension, perks and other compensation totalled approximately $1 million, bringing his total compensation to $14.5 million for fiscal 2018. 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. 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. 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. Allied Properties REIT 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. The City said renovations have not started yet. 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. Royal Bank of Canada Website, 1995-document.write(new Date().getFullYear()), Privacy & Security | Legal | Accessibility, Report a Fraudulent Email or Security Concern. 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. Her passion for employees, clients, and community set her apart, noted Mr. McKay. Republication or distribution of this content is Reached by phone, Brenda Ha tells Canadaland that she works with the Kielburger parents on occasion through her personal and corporate concierge company, Check Box Services, and confirmed her role in negotiating the lease agreement for 233 Carlton. Queen's University. She will join former RBC CEO Gord Nixon on the BCE board, which he chairs. Board Member. Every day, get the financial news that matters in your inbox. McKays 2018 total direct compensation was $13.5 million, which was 13% above his targeted compensation and a 9% increase from 2017. His son, John Tory, is the current Mayor of Toronto and former Progressive Conservative Party of Ontario leader. Next door sits 231 Carlton, currently owned by 7619804 Canada Corporation, also registered to Fred and Theresa Kielburger. 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. George Lewis, group head of wealth management and insurance, received about $4-million, down 6.5 per cent due to a lower bonus. 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, said current chief executive Gord Nixon. 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. 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. 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. 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. I am honoured to have been asked to lead Personal & Commercial Banking. 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. Peat says Tory fully paid the costs for the trip. 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. Her responsibilities will include retail banking operations and certain retail . Its pretty middle-of-the-road of the Toronto lease market.. Board Memberships & Affiliations. 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. The estimated total pay for a Director at RBC is $360,228 per year. 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. In 2010, she was named one of Canadas Most Powerful Women: Top 100 by Womens Executive Network. Toronto-Dominion Bank and Bank of Nova Scotia have already released their proxy circulars. Fukakusa, 62, was one of a handful of veteran women executives in Canadian banking that have kept pace with their male counterparts. As a committed mentor and advocate, Ms. Tory actively sponsors women into executive roles at the bank. 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. "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 . 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. 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. About RBC > Media Newsroom > News Releases >RBC names Jennifer Tory as Group Head, Personal & Commercial Banking. Read more about cookies here. Douglas McGregor, group head, RBC Capital Markets and RBC Investor & Treasury Services, made $10.8 million in total compensation, the same amount as 2017. The client was not given the opportunity to put restrictions on the content or review it prior to publication. 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. A request that the bank create a new technologies committee. Ms. Tory participated in the development of RBCs Diversity Blueprint, a strategic outline of the banks diversity priorities and objectives. David MacKay got a 9% raise over 2017, thanks in part to banks top position in mutual fund assets. Douglas McGregor received nearly $11.3-million in 2015, though that was down 15 per cent from 2014. 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. 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. 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. Client Associate salaries - 39 salaries reported. Graduated. 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.. We encountered an issue signing you up. 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. As a committed mentor and advocate, Ms. Tory actively sponsors women into executive roles at the bank. 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. 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. This advertisement has not loaded yet, but your article continues below. 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. Visit our Community Guidelines for more information and details on how to adjust your email settings. 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. 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.. Anyone can read Conversations, but to contribute, you should be a registered Torstar account holder. HSBC Holdings Plcs Canadian unit is led by Sandra Stuart, 53. Top image: a September 2019 Google Street View photo of 233 and 231 Carlton Street. 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. If you don't see it, please check your junk folder. As RBCs Chief Administrative Officer Jennifer Tory has responsibility for Brand, Marketing, Citizenship, Communications, Procurement and Real Estate functions globally. 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. 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 building is now occupied, in part, by a store that repairs laptops and sells electronics. Rod Bolger, chief financial officer, made $4.4 million in total compensation in 2018, up from $3.7 million the year before. Average RBC hourly pay ranges from approximately $9.00 per hour for Teller to $125 per hour for Pharmacist. What correction? 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. $159,715 / yr. Along with other members of Group Executive, Jennifer is responsible for setting the overall strategic direction of RBC. © 2023. representative then handled the deal on the Kielburgers behalf. Wittington also controls Selfridges Group Ltd., which owns the upscale department store Holt Renfrew (Canada). 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 most she received in one year was C$4.96 million for 2014. 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. Ms. Tory is a member of RBCs Diversity Leadership Council (DLC) and is Chair of the Canadian Banking business units DLC. 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. 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. $139,667 / yr. Janice Fukakusa, RBC's chief financial officer, received total compensation of about $5-million in 2015, up 1 per cent from 2014. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. 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. We ask you to keep your comments relevant and respectful. Registered Client Associate salaries - 49 salaries reported. 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. 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. RBC is facing two shareholder proposals this year, both of which the bank advises voting against. Prior to her current role, she was Senior Vice President of Operations for Canadian Banking RBC. Vice President salaries - 53 salaries reported. Tory, 58, is currently RBC's regional president of Canadian banking for the Greater Toronto region. Still, Mr. McKay's compensation was again eclipsed by the bank's group head of capital markets. Additionally, she provides leadership and oversight of transformational initiatives, with a particular focus on how the enterprise works together to further RBCs success. $60,499 / yr. "Not only did we do a safari, but we spent four days with Marc and Craig Kielburger and Free The Children," Jennifer . Because the properties were purchased solely to support WE Charity, I simply assisted in their incorporation.. 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 . The property is currently assessed at just under $2.3 million for tax purposes. permissions/licensing, please go to: www.TorontoStarReprints.com. We apologize, but this video has failed to load. 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. document.write(CurrentYear) 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.. 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 . Elizabeth's mother, Helen Yvonne Solomon, was born . Does growth in self-managed accounts defy need for advice? His signature is on the articles of incorporation for 7619804 Canada Corporation, and he signed off on its most recent annual return. 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. She most recently acted as chief administrative officer for the bank. 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. There was an error, please provide a valid email address. expressly prohibited without the prior written consent of Toronto Newspapers Limited, 8 Spadina Avenue, 10th Floor, Toronto, ON M5V 0S8, put its Weston Foods bakery business up for sale. 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. Ms. Tory joined RBC in 1978. RBC. All 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. 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. Victor Li, the CFO for WE Charity and ME to WE, assisted the Kielburger parents in setting up both numbered companies. 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. 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.. 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. 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. Kristyn Wong-Tam, the councillor for the area, says she was also not informed in advance. Not only did we do a safari, but we spent four days with Marc and Craig Kielburger and Free The Children, Jennifer said in the video, referring to WE Charity by its name at the time. Wright has been a partner at Torys for more than a decade and is chair of the firms corporate department. 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. Karen McCarthy, Director, Investor Relations, 416-955-7809, Media contact: 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. var CurrentYear = new Date().getFullYear() The estimated base pay is $177,025 per year. RBC had the highest market cap of the Big Five banks for the period. Tory married Elizabeth (Liz) Bacon, a nurse, on May 15, 1953. Ms. Tory completed her ICD.D designation through the Institute of Corporate Directors at the Rotman School of Management. She will take on her new job, one of the highest-profile in the sector, in April. The average RBC salary ranges from approximately $37,000 per year for Client Advisor to $200,000 per year for Business Manager. We apologize, but this video has failed to load. Ms. Tory has been instrumental in the advancement of women and other diverse groups at RBC - where diversity is a long-standing core value. Ms. Jennifer Tory retired in 2019 as Royal Bank of Canada's Chief Administrative Officer. From August 2010 to September 2018, WE used the building rent-free, which WE says represented $702,900 in foregone rental income. RBC employees rate the overall compensation and benefits . 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. Visit our Community Guidelines for more information and details on how to adjust your email settings. 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 . 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. 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. Associate Director salaries - 45 salaries reported. 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. 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. For more information, please visit rbc.com. 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. Currently working as Regional President, Toronto at RBC in Ontario, Canada. Additionally, she provides leadership and oversight of transformational initiatives, with a particular focus on how the enterprise works together to further RBC's success. 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]. | Source: Leads by Industry . 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. 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. 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.. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. 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. Investor contact: 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.. The City of Toronto is expected to spend up to almost $10 million over 15 years to lease and renovate a property owned by the parents of Craig and Marc Kielburger, the co-founders of the WE organization. For 2016, the CEO's salary was raised to $1.5-million, a 15-per-cent increase. 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. 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. 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. 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.. To order copies of The company will hold its annual shareholder meeting via webcast on April 29, at which point the new directors are expected to be approved. She is an outstanding leader with a track record of strong performance throughout her career. 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. 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. 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. What correction? Royal Banks annual general meeting will be held April 4, 2019. 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). var _ctct_m = "20dc9acbbb159cf7b9499c45d801ca78"; This field is for validation purposes and should be left unchanged. According to a signed statement WE provided from a Sothebys realtor last year, that represented an in-kind value of nearly $4.7 million. When considering the top executives across Canadian banking, Fukakusa ranks 20th overall for compensation. This copy is for your personal non-commercial use only. Cinematheque Ontario. Awarded the Queen's Jubilee Medal in 2013, Tory has a long history of supporting numerous community causes. Please try again. 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. In particular, she assisted in the development of the components related to women, visible minorities, and newcomers to Canada. 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.". 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. 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. View Jennifer Tory's business profile as Board Member at BCE. $55,284 / yr. We ask you to keep your comments relevant and respectful. The agreement was completed last summer before neighbourhood residents could be consulted. 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. Comments may take up to an hour for moderation before appearing on the site. 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. 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