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Credit Suisse COO resigns amid latest scandal

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  • 2 weeks ago
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Credit Suisse COO, Pierrre-Olivier Bouée has resigned as the Swiss lender deals with an espionage scandal which has raised questions about the bank.

Mr. Bouée’s departure came after a third-party investigation into Credit Suisse’s decision to put its outgoing head of wealth management, Iqbal Khan, under surveillance.

Led by the law firm Homburger, the investigation also concluded that acting CEO Tidjane Thiam was not aware nor did he approve of the surveillance being put in place.

In a statement Credit Suisse stated that, “The Board of Directors appreciates taking appropriate measures to protect the company’s interests, including when senior employees leave the company.”

“However, 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.”

 

 

 

Source: Smart Trend Team