Credit Suisse has confirmed the observation of managers in two cases, one of which being Iqbal Khan. More such surveillance jobs may however have taken place, according to reports in the Swiss media.
«Spygate» may not have reached its end yet: Iqbal Khan, ex-head of Credit Suisse’ private bank and now co-head of wealth management at UBS, apparently was followed around by investigators at an earlier stage than has been known so far.
Khan was also tailed in Asia when he still worked for the smaller of the two big Zurich-based banks, according to a report by «Handelszeitung». The observation failed however, the business paper claimed.
A Scandal and No End
If correct, the report confirms just how broken the relationship between Khan and his boss, CEO Tidjane Thiam, had become. Khan in September 2019 confronted his pursuers in downtown Zurich, which led to a scandal dubbed «Spygate».
A Credit Suisse probe into the scandal fingered ex-COO Pierre-Olivier Bouée and ex-head of security Remo Boccali as responsible for ordering the observation. In December, «Neue Zuercher Zeitung» revealed, that the bank had also paid for the tailing of its ex-human resource manager Peter Goerke.
