Legal Battle Intensifies as Ex-RBC CFO Defends Against Misconduct Claims
Nadine Ahn, the former chief financial officer of the Royal Bank of Canada (TSX: RY), has filed a reply and defense to the bank’s counterclaim, furthering her challenge against her termination. Ahn maintains that her relationship with colleague Ken Mason was purely platonic, countering RBC’s allegations of an undisclosed close personal relationship that led to her dismissal.
On April 5, RBC fired both Ahn and Mason, citing a breach of the bank’s code of conduct. The bank alleged that their relationship resulted in preferential treatment for Mason, including unwarranted compensation increases. Ahn, who initially filed a $50 million lawsuit against RBC, acknowledges supporting salary increases for Mason but insists they were merit-based and not influenced by their friendship.
RBC’s statement of defence, filed in August, detailed its justification for Ahn’s termination, including references to a whistleblower complaint and evidence of a close relationship. Ahn categorically denies these allegations.
Mark Fletcher, Ahn’s lawyer, said, “There is no policy against workplace friendships, and that’s all this was. Satirical jokes and platonic expressions of affection were common between Nadine and Ken Mason, and well known to colleagues.” He said RBC was selectively weaponizing its policies to attack her reputation and called the bank’s actions “shameful.”
RBC maintains that Ahn’s termination followed a thorough review, revealing a significant breach of the bank’s code of conduct based on “irrefutable evidence.” The bank previously stated that Ahn’s claims are without merit and that “a CFO’s integrity must be beyond reproach.”
RBC spokeswoman Gillian McArdle declined to comment on the latest filing but has said the bank was disappointed to learn the allegations against her were true.
Information for this story was found via The Canadian Press, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
