) on Tuesday cleared Chief Executive Tidjane Thiam of the botched surveillance of the bank’s former wealth management head Iqbal Khan in an internal investigation that cost Thiam’s right-hand man his job.
Chief Operating Officer Pierre-Olivier Bouee resigned after the investigation, carried out by the Homburger law firm, found he alone initiated observation of Khan. The split between Thiam and Khan has gripped Switzerland’s financial world with the scandal generating sensational headlines about personal enmity in the normally dispassionate world of Swiss private banking.
“Neither the Homburger investigation nor the observation of Iqbal Khan identified any evidence that Iqbal Khan had attempted to poach employees or clients away from Credit Suisse, contrary to his contractual obligations,” it said.
Source: Loan Digest (loandigest.net)
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