Response to Khan Shading: Top Managers Need to Leave Credit Suisse

              Tuesday, October 01, 2019

Has a new job at UBS since today: Iqbal Khan.
(Photo: REUTERS)

              When it becomes known that top manager Khan is leaving Credit Suisse and hiring from rival UBS, a high-ranking employee rings the alarm. He initiates the shading of the apostate. The affair has personal consequences.
              In the affair over the supervision of the former Credit Suisse top manager Iqbal Khan two high-ranking coworkers of the Swiss large bank take their hat. According to the bank, on August 29, 2019, when the appointment of Khan to rival UBS became known, the Chief Operating Officer (COO) appointed the Head of Global Security Services to oversee the surveillance. Both returned with immediate effect. Credit Suisse 12.23 COO Pierre-Olivier Bouée took over the responsibility "for this matter", informed the Swiss bank. Bouée testified that he had ordered the surveillance of Khan to protect the interests of the bank. According to him, he had decided this alone and had not discussed it with the CEO, any other executive board, the chairman of the board of directors or the chairman of the audit committee. Credit Suisse has appointed James Walker as the new COO. Credit Suisse boss Tidjane Thiam relieved a commissioned by the bank at the law firm Homburger investigation of the incident. "The investigation by Homburger showed no indication that the CEO approved the surveillance of Iqbal Khan or knew of it before 18 September 2019, after the monitoring was discontinued," said Credit Suisse. Three prosecutors were private investigators Tidjane Thiam remains CEO. (Photo: REUTERS) In September, various Swiss media reported that Khan and his wife had been persecuted in the center of Zurich in their vehicle by three men in a second car. After Khan stopped and tried to take pictures of the men, they tried to snatch his cell phone from him. Approaching passers-by would have prevented this. The three pursuers were later determined by the police and identified as a private investigator, it said. Khan was Head of International Asset Management at Credit Suisse, but switched to rival UBS on October 1, where he succeeds ex-Commerzbank chief Martin Blessing as co-head of Global Wealth Management. There were no indications that Khan had tried to lure employees or customers of Credit Suisse, contrary to his contractual obligations, according to the bank.

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