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Investigation into a “close personal relationship” |  RBC fires its CFO

Investigation into a “close personal relationship” | RBC fires its CFO

(Toronto) The Royal Bank of Canada (RBC) has fired its chief financial officer, Nadine Anne, following an investigation into a relationship she allegedly had with another employee.

RBC says it recently became aware of the allegations regarding MI Ahn launched an internal review while consulting outside legal counsel for the investigation, according to a statement issued Friday evening.

Investigations revealed that MI Anne had a “close and undisclosed personal relationship” with another employee who received preferential treatment, including promotions and pay increases, which violated the bank’s code of conduct.

MI Ahn and the other employee were fired after the review.

RBC Bank confirms that the investigation found no evidence that the behavior of the two targeted individuals would have affected the bank's financial statements, strategy, financial or commercial performance.

Katherine Gibson, who most recently served as Senior Vice President of Finance and Controller at RBC, has been named interim CFO, effective immediately, while a permanent successor is searched.

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