- By Aditya Pratap Singh
- Tue, 09 Apr 2024 01:35 PM (IST)
- Source:JND
Who Is RBC CFO Nadine Ahn: The Royal Bank of Canada has fired former Chief Financial Officer Nadine Ahn for allegedly having an undisclosed personal relationship with another bank employee. She allegedly violated the code of conduct by maintaining an undisclosed personal relationship with another employee, which may have resulted in preferential treatment, including promotions and salary increases.
Following the investigation, Ahn and the other employees were cleared of any wrongdoing related to the bank's general performance, and financial reporting. However, the bank said it believed she had violated its code of conduct, even though there was no evidence of financial impropriety.
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All about Nadine Ahn
Nadine Ahn was born in Toronto, Ontario, Canada. She attended the University of Toronto, where she studied business and commerce. Ahn also obtained certification from the Chartered Professional Accountants of Canada. She joined the Bank back in 2002 as a senior manager of fund transfer pricing and corporate treasury. She was later promoted to various positions within her tenure.
In 2021, Nadine became the bank's first female CFO. Previously, Ahn served as senior vice president of wholesale finance and investor relations for five years for the bank. She is reportedly preparing to take over as the potential successor to chief executive Dave Mackay. If this happens, she will be the first female CEO of a major bank in Canada.
During her time as CFO at RBC, she was responsible for corporate development, investor relations, tax, performance management, and finance. Ahn also oversaw the asset-liability committee and played a key role in setting RBC's strategic course in collaboration with other executives. According to Bloomberg, she earned C$4.1 million ($3 million) in direct pay in fiscal 2023, including a C$650,000 salary and bonuses and stock awards, bringing her total compensation to more than C$3.4 million.