TORONTO — Royal Bank of Canada says it has terminated chief financial officer Nadine Ahn following an investigation into a personal relationship she allegedly had with another employee.

In a statement released Friday evening, RBC says it recently became aware of allegations involving Ahn and launched an internal review, while also consulting external legal counsel to investigate.

It says the probe found evidence that Ahn was in an "undisclosed close personal relationship" with another employee who received preferential treatment, including promotion and compensation increases, which violated the bank's code of conduct.

Ahn and the other employee were both terminated following the review.

RBC says the investigation found no evidence of conduct by either individual that affects the bank's previously issued financial statements, strategy or financial or business performance.

Katherine Gibson, who most recently served as RBC's senior vice-president of finance and controller, has been appointed interim chief financial officer, effective immediately, while a search is conducted for a permanent successor.

This report by The Canadian Press was first published April 8, 2024.

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