Saudi Press

Saudi Arabia and the world
Saturday, Aug 02, 2025

Credit Suisse blames former executive for second spying scandal

Credit Suisse blames former executive for second spying scandal

Credit Suisse is blaming a former high ranking executive for placing a second top employee under surveillance earlier this year.
The Swiss investment bank said Monday that ex-chief operating officer Pierre-Olivier Bouée ordered a spying operation on Credit Suisse's former head of human resources for several days in February, and later covered up the scheme.

Credit Suisse (CS) said that Bouée tapped a "third-party firm" to observe Peter Goerke "on behalf of Credit Suisse." The company did not explain why Bouée had Goerke watched.

Goerke left his HR role and the bank's executive board in late February to become Credit Suisse's senior adviser for new projects in Asia and China.

It's the second time Bouée has been implicated in a spying scandal at the bank. He stepped down this fall after an investigation found that he asked the bank's head of security to spy on Iqbal Khan, Credit Suisse's head of wealth management, in August after crosstown rival UBS (UBS) announced that Khan would be joining them. The head of global security also resigned.

On Monday, Credit Suisse said that Bouée was asked after that incident whether he had ordered surveillance on anyone else. Bouée "did not respond truthfully when asked about any additional observations and did not disclose the observation of Peter Goerke," the bank said in its statement. It added that the board of directors has now decided to fire Bouée. He had earlier resigned.

The board also said it has apologized to Goerke.

The bank enlisted Swiss law firm Homburger to investigate the surveillance of Goerke after media reported that he was a target. A Swiss newspaper, the Neue Zürcher Zeitung said last week that Goerke had been placed under observation. It cited documents and photos.

Credit Suisse said that it found no indication that CEO Tidjane Thiam and other members of the executive board or board of directors knew anything about the latest spying case until the media reported on it. And it said the bank has already put in place "more rigorous internal policies" to stop this from happening again.

"The observation of Peter Goerke, which has now been confirmed, is inexcusable," said Urs Rohner, chairman of the board of directors, in a statement Monday. He said the board "firmly rejects a culture of observation."
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Germany’s Economic Breakdown and the Return of Militarization: From Industrial Collapse to a New Offensive Strategy
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Russia Formally Recognizes Taliban Government in Afghanistan
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Emirates Airline Expands Market Share with New $20 Million Campaign
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
Iran's Parliament Votes to Suspend Cooperation with Nuclear Watchdog
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
Explosions Rock Doha as Iranian Missiles Target Qatar
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
×