Royal Bank Of Canada Fires CFO For ‘Undisclosed Personal Relationship’ With Colleague

New Delhi: The Royal Bank of Canada (RBC) has fired its Chief Financial Officer, Nadine Ahn, following accusations of misconduct. Ahn, who had been in the role since September 2021 allegedly breached the bank's code of conduct by maintaining an undisclosed close personal relationship with another employee. This relationship raised concerns of potential preferential treatment including favoritism in promotions and salary raises.

The largest bank in Canada has appointed Katherine Gibson as the interim CEO following the confirmation of the termination of employment for both Nadine Ahn and the employee with whom she was involved in the undisclosed relationship. (Also Read: Swiggy Transitions To Public Limited Company Ahead Of IPO)

The investigation found no evidence of misconduct by Nadine Ahn or the other employee regarding the bank's financial statements, strategy, or overall performance. However, the bank deemed Ahn's actions as a breach of its code of conduct. (Also Read: CBDT: No Special Initiative To Reopen HRA Mismatch Cases, Confirms)

The bank stated that “We became aware of “allegations” against Ahn and launched an investigation, which found 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.”

It further added “The investigation found no evidence of misconduct by the former CFO or the other employee in regard to the bank’s previously issued financial statements, RBC’s strategy, or its financial or business performance”.