Credit Suisse admits surveillance of second executive

Credit Suisse admits surveillance of second executive
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ZURICH (Reuters) – Credit Suisse (CSGN.S) on Monday admitted it was behind instructions to carry out surveillance on a second executive, after dismissing a previous similar incident as an “isolated event”.

Switzerland’s second-largest bank pinned the blame on former chief operating officer Pierre-Olivier Bouee, who it said hired detectives to track former HR head Peter Goerke in February.

The bank earlier blamed Bouee for a similar incident involving former wealth manager Iqbal Khan.

“The observation of Peter Goerke, which has now been confirmed, is inexcusable,” Credit Suisse Chairman Urs Rohner said in a statement, adding there was “grave concern” that those responsible for ordering the surveillance had not mentioned it during an earlier probe regarding Khan.

“We are aware that the observation of Iqbal Khan and Peter Goerke have damaged the reputation of our bank,” Rohner said.

Credit Suisse has been in the spotlight since September when Khan filed a criminal complaint in Zurich after being followed by private detectives.

The bank launched an investigation and found it had bankrolled the surveillance.

Source: REUTERS

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