Credit Suisse spy caper explodes Swiss discretion CGAThompson
Prosecutors have opened a criminal probe into an incident in which Credit Suisse allegedly hired private detectives to shadow the Swiss bank's ex-wealth management head, Iqbal Khan, Reuters reported on Sept. 23, citing the Zurich attorney's office.
Khan, a rising star in Swiss finance, is moving to rival bank UBS to head its wealth management unit in October, just three months after leaving Credit Suisse. Swiss newspaper SonntagsZeitung, without citing its sources, reported on Sept. 22 that Credit Suisse had hired three detectives to investigate whether Khan was seeking to lure its employees to UBS.
The Zurich attorney's office said Khan filed a criminal complaint last week alleging threats and coercion in a Sept. 17 confrontation, but did not say who made the threats or what they were. On Sept. 23 Credit Suisse issued a statement saying board of directors had launched an investigation into the events surrounding Khan.
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