RBC’s ex-CFO sues bank for $36million for wrongful dismissal and ‘public humiliation’ after she was fired over affair with colleague she denies having
The former chief financial officer of Royal Bank of Canada is suing the bank for $36 million, alleging she suffered “public humiliation” after being fired over an undisclosed personal relationship with a colleague, allegations she denies.
Nadine Ahn, 52, filed a lawsuit in Ontario Supreme Court, claiming she has been humiliated and suffered “visible damage to her reputation.”
Ahn was fired by RBC on April 5 after the bank said she violated the bank’s code of conduct for being involved in an “undisclosed close personal relationship with another employee.”
Ahn’s lawsuit explains how the bank’s CEO, Dave McKay, texted her on the evening of April 4 asking her to attend a meeting the next day.
However, according to Bloomberg, Her court documents state that when she showed up, McKay wasn’t there. She was met by a lawyer who asked her a series of questions about a colleague, Ken Mason, who worked in the bank’s corporate treasury department.
Former RBC CFO Nadine Ahn has filed a lawsuit against the Canadian bank for wrongful termination and “public humiliation” after she was fired over an affair with a colleague she denies having had.
RBC (Royal Bank of Canada) sign in Toronto’s financial district Toronto, Ontario
The RBC investigator accused Ahn of giving Mason preferential treatment and insinuated they were having an affair,” her statement said, which Ahn said was “patently false.”
MailOnline has asked RBC for comment.
RBC said in a statement in April that it “was made aware of the allegations regarding Ms. Ahn and immediately launched an internal investigation and retained outside legal counsel to investigate.” It added that the alleged relationship had resulted in “preferential treatment for the employee, including promotion and salary increases.”
Mason, who was also fired, has also filed a lawsuit against RBC, seeking more than C$20 million in salary and damages. In his statement, he alleges the bank “ambushed” him with a “discriminatory and inappropriate/unreasonable workplace investigation meeting” that was “unfair, biased, and procedurally flawed.”
According to his LinkedIn page, Mason was head of capital and term finance at the bank.
Ahn’s complaint stated that she had been friends with Mason since 2013. It also argued that RBC’s code of conduct did not require her to disclose a friendship with a colleague, and that in any event, “her friendship with Mr. Mason was in no way hidden from RBC.”
Katherine Gibson (pictured) has been appointed interim CFO for RBC following Ahn’s departure
Ahn, in her early 50s, began her 12-year career at RBC as a senior manager before being promoted to managing director, then vice president and senior vice president, according to her LinkedIn page.
Canada’s largest bank paid Ahn about $3 million in fiscal 2023, representing a 25 percent pay increase from the previous year.
When she was appointed to her former role in 2021, Ahn was the only female CFO at any of the big six Canadian banks.
According to her Facebook, she is married.
Following Ahn’s departure, the bank has appointed Katherine Gibson as interim CFO while the search for a new colleague gets underway.
Gibson has been with RBC for 20 years and most recently served as Senior Vice President, Finance & Controller, where he oversaw the board reporting process and managed the bank’s accounting policies and financial management systems.