Royal Bank of Canada Fires CFO After Investigation
By Mary de Wet
Royal Bank of Canada said it terminated Finance Chief Nadine Ahn's employment after an investigation found Ahn had an undisclosed relationship with an employee that led to preferential treatment for that employee.
The bank appointed Katherine Gibson as its interim chief financial officer.
Ahn couldn't immediately be reached for comment.
Ahn was named finance chief in November 2021 after more than 20 years in finance roles with the bank.
RBC said it launched an internal review after being made aware of allegations involving Ahn.
The investigation found evidence that Ahn was in an undisclosed close personal relationship with another employee that led to promotion and compensation increases for that employee, the bank said.
The bank said it has terminated the employment of that worker.
The investigation found no evidence of conduct by the former finance chief or the other employee with respect to the bank's previously issued financial statements, RBC's strategy or its financial or business performance, RBC said.
Write to Mary de Wet at mary.dewet@dowjones.com
(END) Dow Jones Newswires
April 05, 2024 20:46 ET (00:46 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
Markets Brief: Tech Stocks Lead Ahead of Nvidia Earnings
-
How Anti-Obesity Drugs Are Innovating the Healthcare Market
-
What’s Happening In the Markets This Week
-
Why Immigration Has Boosted Job Gains and the Economy
-
What to Invest in During High Inflation
-
Never Mind Market Efficiency: Are the Markets Sensible?
-
Starbucks Stock Could Use a Pick-Me-Up After Big Selloff; Is it a Buy?
-
5 Cheap Stocks to Buy From an Attractive Part of the Market
-
After Earnings, Is Roblox Stock a Buy, Sell, or Fairly Valued?
-
Should You Buy and Hold an Artificial Intelligence Portfolio?
-
After Earnings, Is Lyft Stock a Buy, a Sell, or Fairly Valued?
-
8 Stock Picks in the Apparel Industry
-
Baidu Earnings: Advertising Weakness Offset by Continued Growth In Cloud Business
-
Going Into Earnings, Is Target Stock a Buy, a Sell, or Fairly Valued?
-
Walmart Earnings: Low Prices and Strong Digital Presence Drive Market Share Gains
-
After Earnings and a Big Selloff, Is Shopify Stock a Buy, a Sell, or Fairly Valued?