06:19 AM EDT, 04/08/2024 (MT Newswires) -- Royal Bank of Canada ( RY ) (RY.TO,RY) over the weekend said that it has "terminated" the employment of Chief Financial Officer Nadine Ahn, effective immediately, following a review into allegations of misconduct.

An internal investigation found that Ahn was in an "undisclosed close personal relationship" with another employee. The alleged relationship resulted in preferential treatment of the employee, including a promotion and salary increases.

RBC has also sacked the other employee, whose identity has not been disclosed.

The company has tapped Katherine Gibson to serve as interim CFO while the bank looks for a permanent replacement. Gibson previously served as senior vice president of finance and controller.

Royal Bank of Canada's ( RY ) stock, which was up 1.7% in Canada on Friday, slipped 0.1% in premarket US trading on Monday.