Credit Suisse CEO Exonerated as Bouee Resigns After Scandal (2)

Credit Suisse Group AG exonerated Chief Executive Officer Tidjane Thiam as one of his key allies took the fall for a corporate spying scandal that shook Zurich’s financial elite and tainted the bank’s reputation.

Chief Operating Officer Pierre-Olivier Bouee, the CEO’s chief lieutenant at three companies for more than 10 years, stepped down after ordering detectives to shadow former wealth-management head Iqbal Khan to ensure he didn’t poach clients and brokers for his new post at UBS Group AG. The bank said that he acted alone, informing neither Thiam nor the board of his intentions.

Chairman Urs Rohner says CEO Tidjane Thiam wasn’t involved in the decision to spy on Khan.

Source: Bloomberg

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