Credit Suisse Loses Bid to Kick Lead Investigator Off Spy Probe

Credit Suisse Group AG lost a bid to remove the lawyer leading a Swiss regulatory probe into a spy scandal because of a potential conflict of interest, according to a person familiar with the situation.

Thomas Werlen is independent despite the fact his law firm has opposed Credit Suisse in some cases, Switzerland’s Federal Administrative Court said in a ruling released late Tuesday. Werlen, a partner at Quinn Emanuel Urquhart & Sullivan, had been appointed to lead financial regulator Finma’s probe in March.

The decision didn’t identify the bank or the law firm, as is typical in Switzerland, ...