Credit Suisse has reached an agreement to settle with all parties over allegations of corporate espionage that led to the resignation of former chief executive Tidjane Thiam.
Credit Suisse has reached an out-of-court settlement with the ex-wealth chief and current UBS co-president of global wealth management Iqbal Khan over allegations of spying, according to a report by Swiss newspaper «NZZ am Sonntag». «Everybody involved has agreed to settle and this matter is now closed,» said a spokesperson for Credit Suisse.
«The investigations associated with the criminal charges will be discontinued,» added Erich Wenzinger, spokesperson for the Chief Public Prosecutor's Office in the Canton of Zurich.
Since September 2019
The settlement marks an end to the nearly two-year dispute that first emerged in September 2019 after Khan filed a criminal complaint after confronting a private detective who was following him and his wife in Zurich.
Although initially described as an «isolated incident» and rogue case of spying run by ex-chief operating officer Pierre-Olivier Bouee, details later emerged of other instances of surveillance. Even more, the spotlight was placed on the matter after a private investigator who organized the surveillance committed suicide in October 2019.
