Page 2 of 2

 The banker isn't identified, but may be Patrice Lescaudron, who was sentenced to five years prison in February for a fraud scheme involving Russian clients. Credit Suisse wasn't party to the criminal trial, but later reversed its stance on the erstwhile private banker. 

Outside Minder

The measures by Credit Suisse, including breaking up legal and compliance as well as beefing up the latter massively and rolling out a bank-wide «single client view,» have been introduced since CEO Tidjane Thiam took over three years ago.

Finma said it is appointing an outside monitor to ensure that the bank follows through, and is requiring Credit Suisse to meet the single client view measure by the end of next year.

Having an outside monitor isn't new for Credit Suisse: ex-prosecutor Neil Barofsky was appointed the Swiss bank's monitor when Credit Suisse agreed to pay $2.5 billion to settle a long-running U.S. tax evasion probe. Barofsky stayed longer than planned when his job that was renewed after Credit Suisse in 2016 paid $5.3 billion for mis-selling mortgage securities.

More to follow