RBC names new finance chief amid legal tussle with ex-CFO

RBC names new finance chief amid legal tussle with ex-CFO | Insurance Business Canada

Insurance News

RBC names new finance chief amid legal tussle with ex-CFO

Things become official for internal hire after five months in interim role

Insurance News

By
Terry Gangcuangco

RBC Insurance parent Royal Bank of Canada has appointed Katherine Gibson as its new chief financial officer with immediate effect as the bank’s legal tussle with former CFO Nadine Ahn continues.

Gibson filled the role of interim CFO from April 5, following Ahn’s sacking that is currently the centre of a wrongful dismissal lawsuit. Before stepping into the interim position, Gibson served as senior vice president for enterprise finance and controller.

“Katherine is an outstanding senior executive with global financial insights and leadership capabilities who can continue to advance our strategic priorities and position RBC for the future,” said Dave McKay, RBC president and chief executive.

“She is a respected and experienced leader who brings deep expertise in both business and global enterprise finance, and has been a tremendous contributor and strategic advisor as interim CFO for the past five months.

“We are proud that Katherine emerged as the clear top candidate after an international search, reinforcing the strength of talent at RBC.”

Gibson’s history with RBC spans 22 years, during which she has led global teams and driven key strategic initiatives. Before joining RBC, she worked for six years with an international accounting firm, gaining experience in both Canada and Australia.

The permanent appointment comes on the heels of new legal filings by Ahn’s camp in an Ontario court, reiterating her denial that she was in a romantic relationship with a former treasury department executive.

Ahn’s lawyer, Mark Fletcher, has alleged that the lender selectively quoted communications between Ken Mason and the ex-CFO in a supposed attempt to “manufacture” a just cause termination. Mason is suing for wrongful dismissal as well.

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