Tags: EU | Switzerland | Credit Suisse

Credit Suisse Executive Quits over Snooping on Ex-manager

Tuesday, 01 October 2019 03:38 AM

GENEVA (AP) — Swiss bank Credit Suisse says a senior executive and the head of its security operation have resigned over a decision to snoop on a former wealth management chief who joined rival UBS.

Credit Suisse said Tuesday chief operating officer Pierre-Olivier Bouee "assumed responsibility for this matter" and the bank accepted his immediate resignation. Its head of global security services is also leaving immediately.

The bank said Bouee ordered the security chief to "initiate the observation" of Iqbal Khan Aug. 29, when UBS announced Khan's appointment. Bouee says he decided alone to keep tabs on Khan "in order to protect the interests of the bank" and didn't discuss the matter with CEO Tidjane Thiam or other top managers.

It said no indications emerged that Khan tried to poach employees or clients.

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Swiss bank Credit Suisse says a senior executive and the head of its security operation have resigned over a decision to snoop on a former wealth management chief who joined rival UBS.Credit Suisse said Tuesday chief operating officer Pierre-Olivier Bouee "assumed...
EU,Switzerland,Credit Suisse
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2019-38-01
Tuesday, 01 October 2019 03:38 AM
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