© Reuters. FILE PHOTO: Switzerland’s national flag flies above the logo of Swiss bank Credit Suisse at its headquarters in Zurich, Switzerland April 18, 2021. REUTERS/Arnd Wiegmann/File Photo
ZURICH (Reuters) – Credit Suisse (SIX:)’s former head of global security services is one of three people targeted in a new investigation announced last week by Swiss financial markets watchdog FINMA following an espionage affair at the bank, a lawyer told Reuters on Sunday.
Zurich-based lawyer Andreas Josephsohn confirmed his client was one of three individuals targeted by the proceedings, speaking on condition his client wouldn’t be named.
Swiss newspaper NZZ am Sonntag was first to report that the former head of security services was a target of the investigation.
Credit Suisse could not immediately be reached for comment.
FINMA said last Tuesday that it found “serious organizational shortcomings” surrounding how the bank managed and controlled the observation of some of its top executives and former employees between 2016 and 2019 in its proceedings against the bank that have now concluded.
It opened an investigation looking at the knowledge and conduct of three unnamed individuals to determine their responsibility in the context of violations of supervisory law FINMA identified at the Swiss bank.
In October 2019, the bank’s chief operating officer at the time, Pierre-Olivier Bouee, and the head of global security services resigned over a snooping affair that ultimately also triggered the departure of former Chief Executive Tidjane Thiam.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.