(Reuters) – Royal Canada Bank said on Friday it has appointed Katherine Gibson as interim chief financial officer, effective immediately, following the retirement of Nadine Ang.
The bank acknowledged the “allegations” against Mr. Ahn, and the bank’s code of conduct states that Mr. Ahn had a “close, undisclosed personal relationship with another bank employee, which led to preferential treatment for that employee, including promotion and increased compensation.” It was announced that an investigation had been launched to determine that there had been a violation of the law. ”
As a result, both employees had their employment terminated, the bank said in a statement.
Mr. An could not be reached for comment.
The bank added that its investigation found no evidence of wrongdoing by the former CFO or other employees regarding the bank’s previously issued financial statements, RBC’s strategy, or its finances or performance.
Ms. Ang previously served as Head of Investor Relations at RBC and was appointed CFO in September 2021.
(Reporting by Surbhi Misra in Bengaluru; Editing by Sandra Maler and Sam Holmes.)
