- Royal Bank of Canada (TSX:RY) has appointed Katherine Gibson as its chief financial officer on a permanent basis
- As CFO, Gibson will oversee finance for all RBC businesses and functions, including enterprise financial planning, analysis and reporting, taxation, corporate treasury, investor relations, performance management and corporate development
- Her new role takes effect immediately and she has been serving as the interim CFO since April when Nadine Ahn was terminated from her position after an RBC investigation revealed she was in an undisclosed close personal relationship with another executive
- RBC stock last traded at C$167.46 per share and has risen 24.97 per cent since the year began
Royal Bank of Canada (TSX:RY) on Thursday appointed Katherine Gibson as its chief financial officer (CFO) on a permanent basis.
“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,” RBC’s president and CEO, Dave McKay, said in a statement.
As CFO, Gibson will oversee finance for all RBC businesses and functions, including enterprise financial planning, analysis and reporting, taxation, corporate treasury, investor relations, performance management and corporate development. Her decades of experience within the bank positions her well for this top role.
Her new role takes effect immediately, and she has been serving as the interim CFO since April after the departure of Nadine Ahn.
Ahn was terminated from her position after an RBC investigation revealed she was in an undisclosed close personal relationship with another executive, violating the bank’s code of conduct. Ahn has denied the allegations and has filed a lawsuit against RBC for nearly C$50 million, claiming wrongful termination and “gender-based stereotyping.” RBC, which has countersued Ahn, stated in April that its investigation found no evidence of misconduct by Ahn or the other employee concerning the bank’s financial statements, strategy or business performance.
During her 22 years with RBC, Gibson has been involved with several key businesses, including the wealth division and has held board positions on domestic and global units.
RBC’s recent financial performance has been strong, with the bank surpassing analysts’ estimates for quarterly profit late last month. This was partly because of setting aside a smaller-than-expected sum to cover potential losses on bad loans, reflecting the bank’s prudent risk management.
Royal Bank of Canada is one of the largest banks in the world, based on market capitalization, and has a diversified business model. Its segments include personal and commercial banking, wealth management, insurance and capital markets.
RBC (TSX:RY) stock last traded at C$167.46 per share and has risen 24.97 per cent since the year began.
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(Top photo of chief financial officer Katherine Gibson: Royal Bank of Canada)