Royal Bank of Canada CFO Nadine Ahn terminated effective immediately

On Friday evening, the company announced: “Royal Bank of Canada announced the appointment of Katherine Gibson as Interim CFO. She succeeds Nadine Ahn whose employment was terminated by RBC earlier today, effective immediately. RBC was recently made aware of allegations involving Ms. Ahn and immediately launched an internal review and engaged outside legal counsel to investigate. The investigation found evidence that, in contravention of the RBC Code of Conduct, Ms. Ahn was in an undisclosed close personal relationship with another employee which led to preferential treatment of the employee including promotion and compensation increases. As a result, the two individuals have had their employment terminated. The investigation found no evidence of conduct by the former CFO or the other employee with respect to the bank’s previously issued financial statements, RBC’s strategy or its financial or business performance. Ms. Gibson has been appointed interim CFO while a search is conducted.”