Credit Suisse: CEO wasn't aware of Goerke observation

Monday, 23. December 2019 08:26

Credit Suisse Group said on Monday that it concluded its CEO Tidjane Thiam (pictured) and other board members were not aware that the bank's former COO Pierre-Olivier Bouee had ordered the observation of then board member Peter Goerke until it was reported by the media.

The bank noted its investigation concluded that Bouee had Goerke put under observation, just as he did with former wealth management head Iqbal Khan. "The Board of Directors considers the observation of Peter Goerke to be unacceptable and completely inappropriate. In no way did this operation – or the subsequent observation of Iqbal Khan – correspond to the corporate culture of Credit Suisse as promoted by the Board of Directors. The Board of Directors has apologized to Peter Goerke for the observation," Credit Suisse stated and noted it "put safeguards in place" to avoid such incidents in the future.

Bouee quit in October after it was revealed he hired a detective agency to follow Khan over fears he would poach the lender's employees after moving to UBS in July.

Related Links: Credit Suisse Group
Breaking the News / NP