Royal Bank of Canada Names Katherine Gibson CFO

Royal Bank of Canada (RBC) has officially appointed Katherine Gibson as its permanent Chief Financial Officer, effective immediately, after she served as interim CFO since April. This decision follows the dismissal of former CFO Nadine Ahn, who was let go due to an undisclosed personal relationship with another bank executive that allegedly resulted in preferential treatment. Ahn denies the allegations and is suing RBC for wrongful termination, while RBC countersued her for excessive compensation. Gibson, who has been with RBC for 22 years, has held various senior roles and is now tasked with overseeing all financial operations during a pivotal time for the bank, including the integration of HSBC's operations. Her appointment positions her amongst the few female CFOs in Canada's major banks. RBC's leadership reshuffle comes alongside strong financial performance, with shares up approximately 25% this year.