2/7/2020, 7:27 AM (Source: TeleTrader)
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Credit Suisse CEO steps down amid scandal

Credit Suisse announced on Friday that its CEO Tidjane Thiam (pictured) is set to leave his position on February 14. Thomas Gottstein has been named as the new CEO of the bank. Gottstein has been over 20 year at Credit Suisse and worked in management roles in investment and private banking.

Thiam decided to step down despite being exonerated in investigations into the spying of board member Peter Goerke and wealth management executive Iqbal Khan. The CEO, who will leave as soon as Credit Suisse posts its quarterly results nect week, stated: "I had no knowledge of the observation of two former colleagues. It undoubtedly disturbed Credit Suisse and caused anxiety and hurt. I regret that this happened and it should never have taken place."

Earlier, COO Pierre-Olivier Bouee quit his position over the incidents after it was revealed he was the one behind the investigations.

Breaking the News / VP