Royal Bank of Canada’s CFO Nadine Ahn Fired for Breaching Code of Conduct

On Friday, Royal Bank of Canada announced the appointment of Katherine Gibson as the interim Chief Financial Officer (CFO) with immediate effect, following the departure of Nadine Ahn.

The bank revealed that it had received “allegations” against Nadine Ahn, prompting an investigation and determining that Ahn had breached the bank’s code of conduct by engaging in an undisclosed close personal relationship with another employee, resulting in preferential treatment, including promotion and increased compensation.

The bank stated that both Ahn and the other employee involved had their employment terminated as a consequence.

Additionally, the investigation did not uncover any evidence of misconduct by the former CFO or the other employee regarding the bank’s previously issued financial statements, RBC’s strategy, or its financial or business performance, the bank clarified.

Ahn had previously served as the head of investor relations at RBC before assuming the role of CFO in September 2021.