Canaccord Genuity hires fired RBC exec Nadine Ahn as deputy CFO

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Canaccord Genuity Group Inc. employed former Royal Bank of Canada govt Nadine Ahn as deputy chief monetary officer, with plans to maneuver her into the CFO function subsequent 12 months.

Ahn, who was fired as Royal Bank’s CFO in April, will take over from Canaccord’s present finance chief, Don MacFayden, after a transition interval, the Canadian funding agency mentioned in a press release Wednesday. MacFayden will proceed in a management capability inside Canaccord’s U.S. capital-markets enterprise.

“She’s extremely skilled and matches like a glove inside this group,” Canaccord chief govt Dan Daviau mentioned of Ahn in an interview. “We’ve achieved an immense quantity of diligence on her.”

Ahn, one of the crucial distinguished feminine executives on Bay Street, with 25 years of expertise at Royal Bank, is suing her former employer for wrongful dismissal after she was sacked over an undisclosed private relationship with a colleague.

The lender and its former CFO have traded allegations in court docket filings. Ahn denied that her friendship with Ken Mason, a former worker in Royal Bank’s treasury division, was romantic, and the financial institution mentioned it carried out an investigation by way of exterior authorized counsel that uncovered electronic mail and textual content correspondence displaying it was an intimate relationship and that Ahn breached her obligations as CFO.

“She’s probably the most certified candidate I may ever rent,” Daviau mentioned. Canaccord started talking with Ahn concerning the function through the summer time, he mentioned, and isn’t involved about her dispute with Royal Bank. “We don’t see that impacting her capacity to get the job achieved right here.”

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Canaccord has pursued progress in recent times by way of a collection of acquisitions in its wealth-management enterprise, and Daviau mentioned Ahn would assist the agency proceed that technique. He cited, specifically, her expertise as a key participant finishing Royal Bank’s acquisition of HSBC Holdings Plc’s Canadian property earlier this 12 months.

“I stay up for bringing my expertise to a company that prioritizes innovation, entrepreneurial spirit and bettering shareholder returns,” Ahn mentioned within the assertion.

Bloomberg.com

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