Credit Suisse COO resigns
On October 2nd, Credit Suisse (11.88, -0.33, -2.70%) a recent spy scandal perfectly explained what is called “the mall as the battlefield”. This scandal caused the bank’s chief operating officer (COO) to be forced to resign. A middleman who hired a spy secretly committed suicide, and the position of CEO Tidjane Thiam was almost insecure.
On Tuesday, Credit Suisse clarified that its CEO, Thiam, was not involved in the scandal, although there have been reports that Tiam hired detective surveillance for former wealth management business leader Iqbal Khan to prevent him from Credit Suisse digs into competitors UBS (11.14, -0.17, -1.50%) Group (UBS).
The bank said its internal investigation found that Chief Operating Officer Pierre-Olivier Bouee decided to track and monitor Iqbal Khan alone, and Thiam was unaware of it. Credit Suisse’s investigation did not reveal evidence that Iqbal Khan tried to dig up employees or customers from Credit Suisse.
Credit Suisse announced on Tuesday that Buyi will resign as chief operating officer and be responsible for the scandal. A security officer under his command will also resign.
Both Bui and Thiam have worked in the consulting giant McKinsey and have been close partners since then. A source who worked with them in the UK said that Bui’s acting style is Biyam. More rude.
On the 17th of last month, Iqbal Khan clashed with at least one detective who followed him and his wife, and then went to the police station to report the case. The UBS scandal was exposed.
A report on Monday said that a consultant who helped Credit Suisse hire investigators to follow Iqbal Khan shot suicide last Tuesday.