With the press conference (to the ticker), an excerpt from the law firm's Homburger report (to PDF) and a press release (to the news report), the big bank Credit Suisse wanted the story that the shadowing would be out of control closes their UBS changed chief executive Iqbal Khan. She is not successful. Too many questions remain open.
This is especially true for the role of CEO Tidjane Thiam. Homburger was not commissioned to investigate his relationship with Khan. It is undeniable that a violent conflict broke out between these two. On one motive, to continue against Khan, Thiam would not have missed it.
The investigation concludes that no evidence has been found that Thiam was involved in any way in the surveillance of Khan. And they searched intensely for such tips. Therefore, the Board continues to express its confidence in the CEO and he will retain his position. It was not a big surprise that the major bank's major investors requested it in recent days.
Responsible for monitoring Khan was only COO Pierre-Olivier Bouée and Security Chief Remo Boccali, and they were the only ones to know. The two must now leave the bank immediately. As always, the official statement is that they would take the consequences themselves.
It is hard to believe that it was really only the two who knew or ordered this surveillance. Not only because of the aforementioned dispute between Thiam and Khan, but also because Bouée is a very close confidant to Thiam. The two have worked together in various functions and companies since 2004.
The only person who could say anything outside the bank to the detectives who supervised Khan is the intermediary T, obviously on behalf of Bouée or the security chief, "who then ordered the detective agency. But this has taken his life since his name came to the press in a still unclear way. Even for these events, open issues are still open.
It is clear this morning only that much is still unclear. Credit Suisse did not manage to remove its manager Tidjane Thiam from the firing line. This story will continue to hold on to him and thus to the bank.
Video: The most important moments of the press conference
"I want to apologize on behalf of Credit Suisse": CS President Urs Rohner . Video: SDA-Keystone / Tamedia
Created: 01.10.2019, 10:06