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7/25, 3:32 PM (Source: TeleTrader)
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Credit Suisse reaches settlement in spying case

Credit Suisse confirmed on Sunday it reached an out-of-court settlement with its former wealth management executive Iqbal Khan over spying allegations.

"Everybody involved has agreed to settle and this matter is now closed," a spokesperson for the Swiss lender stated but did not disclose the details of the settlement.

In 2019, the bank's Chief Operating Officer Pierre-Olivier Bouee stepped down after an internal investigation determined that he initiated surveillance of Khan. Several months later, CEO Tidjane Thiam also quit his position despite being exonerated in spying investigations.

Breaking the News / NP