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Credit Suisse admits spying on second executive

Credit Suisse on Monday admitted to snooping on another of the bank’s former executives, deepening a spying scandal at the Swiss group, which is already under investigation for putting its ex-wealth management chief under surveillance.

Switzerland’s second-largest bank blamed former chief operating officer Pierre-Olivier Bouee for hiring detectives in February to track former HR head Peter Goerke. They described a rogue operation in which all executives and directors, including Chief Executive Officer Tidjane Thiam, were kept in the dark about what was going on.

Credit Suisse had earlier blamed Bouee for a similar incident involving former wealth management boss Iqbal Khan and had also cleared Thiam of any role in it. At the time, Thiam characterized it as an “isolated incident”.

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