CEO Cleared Of Involvement In Credit Suisse Spy Scandal

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As Credit Suisse recovers from a spy scandal that has damaged its image, the bank's CEO was found to not be involved.

The CEO of Credit Suisse is cleared of any involvement of a spy scandal that has recently shaken the company.

Recently, Pierre-Olivier Bouee, Chief Operating Officer of Credit Suisse was found to have ordered a spy on Iqbal Khan, Credit Suisse’s former wealth-management chief.

Some claimed that the spying was ordered to confirm that Khan had been poaching other employees at the bank as he was getting ready to transition to a different firm. However, those claims were disproved. Khan started working at UBS on Tuesday.

Tidjane Thiam, CEO of Credit Suisse was found to not have been involved at all. He only found out about the spying on Khan after the operation itself has been terminated. However, the bank is denying that this incident has any effect on the working culture at Credit Suisse.

“I do not believe that we have a problem with our company culture,” Mr. Rohner, Credit Suisse Chairman, said.

Bank officials agree that this scandal has rocked the reputation of the bank.

“The board of directors considers that the mandate for the observation of Iqbal Khan was wrong and disproportionate and has resulted in severe reputational damage to the bank,” the bank said.

Read full story here.

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