RBC countersues CFO dismissed for intimate relationship with co-worker (NYSE:RY)

Royal Financial institution of Canada (NYSE:RY) has filed a countersuit towards former chief monetary officer Nadine Ahn, detailing findings of its inner investigation into her private relationship with a co-worker, Reuters reported Friday.

RBC’s countersuit said that Ahn had violated the financial institution’s code of conduct, the report added.

In April, RBC mentioned it had fired Ahn after an inner evaluation discovered that she was in an undisclosed relationship with one other govt, Ken Mason, that led to his preferential remedy, together with promotion and compensation will increase.

Ahn sued RBC in August for about C$20 million, arguing that the financial institution had made an error when it dismissed her over a private relationship with a co-worker, and denied that the 2 have been romantic companions.

In accordance with the report, RBC mentioned it had obtained an nameless whistle-blower criticism that Ahn and Mason have been concerned in an intimate relationship.

The financial institution mentioned it had found that Ahn and Mason often utilized private and work units to speak, the report added.

RBC said that Ahn ought to repay the corporate about C$3.3 million for funds associated to its performance-based deferred share unit program, short-term incentive program and positive aspects on the train of RBC inventory choices, the report mentioned.

In accordance with the report, the financial institution claimed that Ahn determined to advertise Mason as vice chairman and head of capital and time period funding in 2023.

RBC’s court docket filings described Ahn and Mason’s relationship starting in 2013 or earlier, and famous their dates, poems written by Mason and intimate e mail exchanges, the report added.

Royal Financial institution of Canada didn’t instantly reply to a Searching for Alpha request for remark.