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Credit Suisse’s COO stepped down after a bonkers spying saga caused ‘severe reputational damage’

Tidjane ThiamREUTERS/Ruben Sprich

Credit Suisse announced on its website this morning that its COO, Pierre-Olivier Bouee, would be resigning from the post effective immediately over his role in a spying saga. 
The bank has been embroiled in controversy after reports that a former executive, Iqbal Khan, had been spied on by Credit Suisse over fears he was luring staff away to UBS. 
In the statement, UBS said Bouee acted alone “in order to protect the interests of the bank” and that ” the observation of Iqbal Khan was wrong and disproportionate.”
On Tuesday, reports said that a Credit Suisse contractor who hired Investigo, the firm that carried out the investigation into Khan, had been found dead by suicide. 
View Markets Insider’s homepage for more stories. 

Credit Suisse announced Tuesday morning that its COO, Pierre-Olivier Bouee, would be resigning as COO effective immediately for his role in a spying saga that has plagued the bank in the last few weeks. 

In a statement online, the Swiss bank’s board of directors said that “the observation of Iqbal Khan was wrong and disproportionate and has resulted in severe reputational damage to the bank.”See the rest of the story at Business Insider

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