Royal Bank of Canada has fired its chief financial officer following allegations of an affair with an employee. Bank of Canada CFO Nadine Ahn was fired after she was found to be having an affair with another employee. Ms Ann joined Royal Bank in 1999 and was appointed CFO in September 2021 after working in various areas including treasury, risk, investor relations and other financial roles.
In a press release issued by the bank on April 5, the bank said it was aware of the ‘allegations’ against Anne and had started an investigation. ‘He was found to have breached the code of conduct by having an undisclosed intimate relationship with another employee. According to the news release, this led to abuse of power in the way that the employee got priority in terms of promotion and compensation increase. Although no financial irregularity could be found with respect to the bank’s financial statements, the bank considered their actions to be in violation of the code of conduct.
The bank said in a statement that the two employees were terminated based on the findings. Some media reports say the second employee is Ken Mason, RBC’s 23-year veteran vice president and head of capital and term funding. The bank named Catherine Gibson, its senior vice president and finance and controller, as interim CFO while it searches for a permanent successor.
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2024-04-09 07:01:26
