Royal Bank of Canada signage is pictured in the financial district in Toronto, Friday, Sept. 8, 2023. The former chief financial officer for Royal Bank of Canada is suing the bank for almost $49 million over claims of wrongful dismissal. THE CANADIAN PRESS/Andrew Lahodynskyj
TORONTO – The former chief financial officer for Royal Bank of Canada is suing the bank for almost $50 million over claims of wrongful dismissal.
RBC announced on April 5 it had fired Nadine Ahn after an internal review found evidence she 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.
In a lawsuit filed in the Ontario Superior Court of Justice on Aug. 8, Ahn says there is no merit to the allegations that are patently and categorically false.
She denies providing preferential treatment to her colleague, and says RBC’s decision to fire her was tainted by gender-based stereotypes about friendships between women and men.
RBC spokeswoman Gillian McArdle says in a statement that the facts are very clear that there was a significant breach of the bank’s code of conduct, the claims in the lawsuit are without merit and the bank will vigorously defend against them in court.
The $48.9 million lawsuit, first reported by Bloomberg, includes seeking damages for wrongful dismissal, damages for defamation, punitive damages and other claims.
This report by The Canadian Press was first published Aug. 12, 2024.
Companies in this story: (TSX:RY)
