Dismissal of Royal Bank of Canada CFO due to undisclosed relationship, reported by Vrinda Jain

Nadine Ahn, who served as the Chief Financial Officer (CFO) at the Royal Bank of Canada (RBC), recently lost her job due to concerns about her behavior. She didn’t reveal a personal relationship with a coworker, raising worries about possible unfair treatment in job promotions and pay raises.

Even though an investigation found no proof of financial wrongdoing or problems with how the bank was performing overall, Ahn’s actions went against the bank’s rules of conduct.

1. Born in Toronto, Canada, Ahn studied business and commerce at the University of Toronto and got certified as an accountant in Canada.
2. Ahn joined RBC in 2002, starting as a senior manager in charge of funds transfer pricing and corporate treasury. Over the years, she took on different roles within the bank.
3. In 2021, she achieved a milestone by becoming RBC’s first female CFO. Before that, she spent five years as a senior vice president, handling wholesale finance and investor relations.
4. Her job as CFO involved supervising corporate development, investor relations, taxes, performance management, and finance. She worked closely with other executives to decide on RBC’s future plans.
5. Ahn was seen as a possible replacement for Dave McKay, RBC’s CEO. If she had taken over, she would’ve been the first woman to lead a major Canadian bank.
6. Reports say Ahn earned a total of C$4.1 million ($3 million) in the 2023 fiscal year. This included a salary of C$650,000, bonuses, and stocks.
7. After Ahn’s departure, Katherine Gibson, who previously served as RBC’s controller and senior vice president of finance, stepped in as the new CFO.

In summary, Nadine Ahn’s departure from RBC stemmed from concerns about her not disclosing a personal relationship with a colleague. Despite her achievements and potential, this breach of conduct led to her replacement by Katherine Gibson.

Repurposed article originally published in Hindustan times