Royal Financial institution of Canada fires CFO over undisclosed relationship

Royal Financial institution of Canada on Friday stated it appointed Katherine Gibson as interim chief monetary officer, efficient instantly, following the departure of Nadine Ahn.

The financial institution stated it turned conscious of “allegations” in opposition to Ahn and launched an investigation, which discovered she violated its code of conduct by having an “undisclosed close personal relationship with another employee, that led to preferential treatment of the employee, including promotion and compensation increases.”

Each workers had their employment terminated in consequence, the financial institution stated in an announcement.

Ahn couldn’t instantly be reached for remark.

The investigation discovered no proof of misconduct by the previous CFO or the opposite worker in regard to the financial institution’s beforehand issued monetary statements, RBC’s technique, or its monetary or enterprise efficiency, the financial institution added.

Ahn was beforehand the top of investor relations at RBC, earlier than being appointed the CFO in September 2021.