13:33:54 EDT Thu 02 May 2024
Enter Symbol
or Name
USA
CA



Royal Bank of Canada
Symbol RY
Shares Issued 1,414,684,980
Close 2024-04-05 C$ 139.11
Market Cap C$ 196,796,827,568
Recent Sedar Documents

Globe says RBC terminates CFO over "relationship"

2024-04-08 07:22 ET - In the News

The Globe and Mail reports in its Monday edition that Royal Bank of Canada terminated chief financial officer Nadine Ahn after an internal investigation concluded she influenced promotions and pay raises of a vice-president in the bank's treasury department while having an undisclosed personal relationship with him. A triple-bylined item led by Stefanie Marotta says the treasury executive was Ken Mason, a VP and head of capital and term funding, who was terminated from the bank on Friday along with Ms. Ahn. The bank received a complaint to an internal tip line on March 11, RBC said, touching off a probe of one of the institution's most senior executives. RBC had started positioning Ms. Ahn as a potential successor to chief executive officer Dave McKay. RBC announced the departures Friday night. In her role as CFO, Ms. Ahn had control over compensation and promotions in her division, which includes treasury, and she had the ability to promote Mr. Mason. Ms. Ahn was named CFO in 2021 but had spent more than a decade in the treasury division. Questions had been circulating inside the bank for some time about the nature of the relationship between Ms. Ahn and Mr. Mason before the issue escalated in recent weeks.

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