Royal Bank of Canada Fires CFO After Investigation

By Mary de Wet

Royal Bank of Canada said it terminated Finance Chief Nadine Ahn's employment after an investigation found Ahn had an undisclosed relationship with an employee that led to preferential treatment for that employee.

The bank appointed Katherine Gibson as its interim chief financial officer.

Ahn couldn't immediately be reached for comment.

Ahn was named finance chief in November 2021 after more than 20 years in finance roles with the bank.

RBC said it launched an internal review after being made aware of allegations involving Ahn.

The investigation found evidence that Ahn was in an undisclosed close personal relationship with another employee that led to promotion and compensation increases for that employee, the bank said.

The bank said it has terminated the employment of that worker.

The investigation found no evidence of conduct by the former finance chief or the other employee with respect to the bank's previously issued financial statements, RBC's strategy or its financial or business performance, RBC said.

Write to Mary de Wet at mary.dewet@dowjones.com

(END) Dow Jones Newswires

April 05, 2024 20:46 ET (00:46 GMT)

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