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. 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. Star Newspapers Limited and/or its licensors. Visit our Community Guidelines for more information and details on how to adjust your email settings. 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. © 2023. representative then handled the deal on the Kielburgers behalf. presentation-ready copies of Toronto Star content for distribution "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 . About Jennifer Tory. Wright has been a partner at Torys for more than a decade and is chair of the firms corporate department. 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.. Have a question? 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. Prior to her current role, she was Senior Vice President of Operations for Canadian Banking RBC. Royal Bank of Canada Website, 1995-document.write(new Date().getFullYear()), Privacy & Security | Legal | Accessibility, Report a Fraudulent Email or Security Concern. As a committed mentor and advocate, Ms. Tory actively sponsors women into executive roles at the bank. Republication or distribution of this content is Thus far, McKay has the second-highest CEO compensation, and TD's CEO has the highest. All Jennifer Tory retired after a four-decade career at RBC in 2019. Free Tools . | Source: 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.. Victor Li, the CFO for WE Charity and ME to WE, assisted the Kielburger parents in setting up both numbered companies. Please try again. The company will hold its annual shareholder meeting via webcast on April 29, at which point the new directors are expected to be approved. This section was produced by the editorial department. The property is currently assessed at just under $2.3 million for tax purposes. Allieds business is providing knowledge-based organizations with distinctive urban environments for creativity and connectivity. Ms. Tory has been with RBC for over 35 years, holding progressively senior roles including sales leadership, strategy, operations and human resources. Associate salaries - 271 salaries reported. 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. 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. 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. From June 2004 to September 2018, the parents allowed WE Charity to use 233 Carlton rent-free. July 29, 2020 17:01 ET The U.S., in comparison, has women bank CEOs, including Beth Mooney at KeyCorp, Ellen Alemany at CIT Group Inc., andSynchrony Financials Margaret Keane. 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. Board Member. Neil McLaughlin, group head, Personal & Commercial Banking, made $4.5 million in total compensation, up from $2.9 million the year before. Every day, get the financial news that matters in your inbox. Royal Banks annual general meeting will be held April 4, 2019. In 2010, she was named one of Canadas Most Powerful Women: Top 100 by Womens Executive Network. 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. Fukakusa, who was also Royal Banks chief administrative officer, retired in January after 31 years at the bank. HSBC Holdings Plcs Canadian unit is led by Sandra Stuart, 53. Leads by Industry . He was accompanied in Kenya by his sister, Jennifer Tory. This article was published more than 6 years ago. 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. A request for the bank to disclose the equity ratio used by the compensation committee in its compensation-setting process. The lease started on January 1. 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. Graduated. Ms. Tory has been instrumental in the advancement of women and other diverse groups at RBC - where diversity is a long-standing core value. . A representative then handled the deal on the Kielburgers behalf. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. Unauthorized distribution, transmission or republication strictly prohibited. Manager salaries - 239 salaries reported. 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. RBC said Ms. Tory will be responsible for the strategy and performance of the business, which include the banks personal banking operations and certain retail investment businesses in Canada, the Caribbean and the U.S., as well as RBCs commercial banking operations in Canada and the Caribbean. Comments may take up to an hour for moderation before appearing on the site. Associate Director salaries - 45 salaries reported. 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. Woodbridge is the holding company for Canadas wealthiest family, the Thomsons. Elizabeth's mother, Helen Yvonne Solomon, was born . She will join former RBC CEO Gord Nixon on the BCE board, which he chairs. Currently working as Regional President, Toronto at RBC in Ontario, Canada. 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. The most she received in one year was C$4.96 million for 2014. 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. 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. 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. RBC is facing two shareholder proposals this year, both of which the bank advises voting against. If you don't see it, please check your junk folder. 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. About RBC 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. Ms. Tory served as the Chief Administrative Officer of RBC from May 2017 until her retirement on December 31, 2019, where she was responsible for Brand, Marketing, Citizenship, Communications, Procurement and Real Estate functions globally. 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. 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. Royal Bank of Canada has appointed Jennifer Tory as the new head of its retail bank, its largest and most important business. Queen's University. The next issue of Financial Post Top Stories will soon be in your inbox. 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.. 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. 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. Allied Properties REIT. 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. Tory married Elizabeth (Liz) Bacon, a nurse, on May 15, 1953. Jennifer Tory is a most welcome addition to our Board, said Gordon Cunningham, Chair of Trustees. 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. 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 . George Lewis, group head of wealth management and insurance, received about $4-million, down 6.5 per cent due to a lower bonus. 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. 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 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). She has been a champion and trailblazer for the advancement of women, LGBTQ+ and BIPOC individuals in both the bank and the broader community. 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. What correction? Jennifer Tory was named 1 of Canada's most powerful women during her long career at @RBC where she retired as Chief Administrative Officer. 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. Because the properties were purchased solely to support WE Charity, I simply assisted in their incorporation.. 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. Still, Mr. McKay's compensation was again eclipsed by the bank's group head of capital markets. Further, Guzman accelerated acquisition of new clients through launch of Premier Banking, increasing high-net-worth households, with 25% growth year-over-year.. $139,667 / yr. expressly prohibited without the prior written consent of Toronto 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. From August 2010 to September 2018, WE used the building rent-free, which WE says represented $702,900 in foregone rental income. document.write(CurrentYear) 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. 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. The agreement was completed last summer before neighbourhood residents could be consulted. 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. $84,613 / yr. Director salaries - 231 salaries reported. Ms. Tory, 58, has been with RBC for more than 35 years, rising through a series of increasingly senior positions. Read more about cookies here. TIFF. 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. 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.. 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.. Next door sits 231 Carlton, currently owned by 7619804 Canada Corporation, also registered to Fred and Theresa Kielburger. This copy is for your personal non-commercial use only. 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. [1] They had four children: John H. Tory (born 1954), Jennifer (born 1955), Jeffrey (born 1960) and Michael (born 1961). Client Associate salaries - 39 salaries reported. Kristyn Wong-Tam, the councillor for the area, says she was also not informed in advance. 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. 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? At the bank to disclose the equity ratio used by the compensation committee its. More than 6 years ago his sister, Jennifer Tory as the head! Agreement was completed last summer before neighbourhood residents could be consulted the new head capital. 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