Credit Suisse spying cases multiply after espionage scandal

Bloomberg

The Credit Suisse Group AG spying incident surrounding the departure of former wealth management head Iqbal Khan might not be an isolated case.
The bank may have spied on former Chief Human Resources Officer Peter Goerke, Swiss newspaper NZZ reported, citing documents it obtained as part of an investigation. A former Credit Suisse employee in the US also recently alleged that the Swiss bank had her followed after she was involved in an accounting dispute.
The latest revelations follow one of the most difficult periods in the bank’s recent history after the lender ordered the surveillance of Khan, the former head of Credit Suisse’s wealth management unit, following his departure to rival UBS Group AG. Chairman Urs Rohner said that staff surveillance was not “part of our toolbox” and a report into the scandal found that that Chief Operating Officer Pierre-Olivier Bouee had acted alone in ordering the surveillance.
While the incident gripped Zurich financial circles, the bank’s internal investigation concluded that other senior management had no knowledge of the spying. A top law firm, Homburger, was commissioned by Credit Suisse to undertake a rapid investigation and found no evidence that the lender had ordered observations of other employees.

Executives Observed
Goerke was spied on from February 20 to February 22, NZZ reported, saying the reason for the alleged operation was unclear. Credit Suisse probably ordered the observation via a middleman, the newspaper said. Goerke left the bank’s executive committee in late February.
Separately, Colleen Graham alleged in a US Department of Labour court filing that Credit Suisse retaliated after she refused to sign off on how revenue from its Signac joint venture would be booked. The case, which was reported earlier this month, dates back to 2017.
A Credit Suisse spokesman didn’t immediately respond to a call for comment.