Credit Suisse investigates report of surveillance on second executive

Credit Suisse investigates report of surveillance on second executive
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ZURICH (Reuters) – Credit Suisse (CSGN.S) is looking into a report by a Swiss newspaper that its then-human resources boss was followed by private detectives in February, reviving concerns about its practices after a similar surveillance operation was uncovered in September.

The detailed report in the conservative Neue Zuercher Zeitung (NZZ), a Swiss newspaper widely read in the financial industry, suggests the surveillance of former wealth management boss Iqbal Khan, which shook the Swiss financial sector and damaged the bank’s reputation, may not be an isolated incident as Credit Suisse has said.

The bank said it would carry out both an internal and independent assessment of the NZZ allegations.

“Credit Suisse is examining the new information as revealed by the media in internal and external reviews,” a spokesman said.

The bank had earlier referred to a statement it gave to the paper, saying the investigation it launched via law firm Homburger into the Khan incident had turned up no evidence that other Credit Suisse employees had been under observation.

 

Source: Reuters

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