On Friday, the Royal Bank of Canada (RBC) announced that Katherine Gibson will be stepping in as interim chief financial officer, taking over the reins after Nadine Ahn’s departure.
According to RBC, Ahn’s sudden departure was due to “allegations involving Ms. Ahn” that led to an internal review and an investigation. A release states that the investigation found evidence that Ahn was in “an undisclosed close personal relationship” with an employee. It also alleges that this led to preferential treatment of the employee, which included a promotion and compensation increases.
Their actions violated RBC’s Code of Conduct, and, as a result, they both were fired.
According to the Code of Conduct, examples of “close personal relationships” include family, romantic or intimate relationships, household members such as roommates, close friends, or persons “with whom we have a significant financial relationship.”
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“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,” reads the statement.
Ahn, who joined RBC in 1999, was appointed CFO in November 2021, taking over the role from Rod Bolger. She’s also a licensed chartered accountant with a bachelor of commerce from the University of Toronto.
Before her new role, Gibson worked at RBC for 22 years and was the senior vice president, finance and controller.