The Royal Bank of Canada (RBC) sacked Nadine Ahn, the former Chief Financial Officer last Friday, following allegations of misconduct. It is claimed that she violated the code of conduct by maintaining an undisclosed personal relationship with another employee, that may have led to preferential treatment such as promotions and salary increases.
While an investigation cleared Ahn and the other employee of any wrongdoing regarding the bank's overall performance, strategy, or financial reports, the bank deemed her actions a breach of its code of conduct, despite the absence of evidence of financial impropriety.
Who Is Nadine Ahn?
Nadine Ahn was born in Toronto, Ontario, Canada, and pursued her education at the University of Toronto, where she studied business and commerce. Subsequently, she obtained a certificate from the Chartered Professional Accountants of Canada.
Ahn was reportedly being groomed as a potential successor to chief executive Dave McKay. Had she assumed the position, she would have been the first female CEO of a major Canadian bank.
According to Bloomberg, Ahn received C$4.1 million ($3 million) in direct compensation in the fiscal year 2023, comprising a salary of C$650,000 along with bonuses and stock awards totaling over C$3.4 million.
