CFO fired by Royal Bank of Canada over undisclosed relationship

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CFO fired by Royal Bank of Canada over undisclosed relationship
CFO fired by Royal Bank of Canada over undisclosed relationship

Before being named CFO in September 2021, Ahn served as RBC’s head of investor relations.

Katherine Gibson has been named the Royal Bank of Canada’s interim chief financial officer (CFO) with immediate effect, replacing Nadine Ahn, the bank announced on Friday.

The bank stated that after learning of “allegations” against Ahn, it opened an investigation and discovered that she had a “undisclosed close personal relationship with another employee which led to preferential treatment of the employee including promotion and compensation increases,” in violation of the code of conduct.

As a consequence, the bank said in a statement, both employees’ employment was terminated.

According to the bank, the review revealed no proof of wrongdoing by the former CFO or the other employee with reference to the bank’s previously released financial statements, RBC’s strategy, or its operational or financial results.

Before being named CFO in September 2021, Ahn served as RBC’s head of investor relations.

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