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  #41  
Old 01.10.2019, 12:24
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Re: Private investigators chasing Zurich banker...

It's finally made it to the BBC now.
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  #42  
Old 01.10.2019, 12:58
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Re: Private investigators chasing Zurich banker...

Seems the security chief Remo Boccali, who had been commissioned by Bouée to supervise Khan, also has to go - poor sod!

Bouée is not yet 50 so bit young to retire?
What fails here is what motivation did Bouée have for this?
The whole thing stinks!
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Old 01.10.2019, 13:49
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Re: Private investigators chasing Zurich banker...

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Seems the security chief Remo Boccali, who had been commissioned by Bouée to supervise Khan, also has to go - poor sod!

Bouée is not yet 50 so bit young to retire?
What fails here is what motivation did Bouée have for this?
The whole thing stinks!
If I understand their statement on executive pay correctly do we not need to worry about Mr Bouee that much... https://www.credit-suisse.com/media/...nsation-de.pdf

I somehow have the gut feeling he might get some golden parachute for leaving his post and claiming that nobody but him knew about it... he wasnt fired for misconduct. "He decided to step down"... I guess that means he will get all his short and long term benefits paid... and probably another year or two of paid base salary on garden leave.
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  #44  
Old 01.10.2019, 14:05
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Re: Private investigators chasing Zurich banker...

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This bit. Yeah right, take the blame, resign and there'll be a secret bonus for you, just don't tell anyone!



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  #45  
Old 01.10.2019, 14:21
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Re: Private investigators chasing Zurich banker...

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If I understand their statement on executive pay correctly do we not need to worry about Mr Bouee that much... https://www.credit-suisse.com/media/...nsation-de.pdf

I somehow have the gut feeling he might get some golden parachute for leaving his post and claiming that nobody but him knew about it... he wasnt fired for misconduct. "He decided to step down"... I guess that means he will get all his short and long term benefits paid... and probably another year or two of paid base salary on garden leave.
When I wrote "poor sod" I probably was not clear, I was talking about the security chief Remo Boccali. I am sure Bouee will never have to work again
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  #46  
Old 01.10.2019, 14:57
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Re: Private investigators chasing Zurich banker...

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Seems the security chief Remo Boccali, who had been commissioned by Bouée to supervise Khan, also has to go - poor sod!

Bouée is not yet 50 so bit young to retire?
What fails here is what motivation did Bouée have for this?
The whole thing stinks!
TT wasn't questioned as part of the inquiry. I can think of only one reason why you don't question someone in such a constellation if they know anything. And that is to avoid them needing to lie.
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  #47  
Old 01.10.2019, 17:10
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Re: Private investigators chasing Zurich banker...

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TT wasn't questioned as part of the inquiry.
- the personal relationship between the two protagonists wasnt part of the inquiry - which seems to be the key to the whole story. Rohner however said in the press conference that it was so bad that the two could not longer work together and confirmed that it was the reason why they let Kahn go that fast.

- the question of what actually happened during the observation wasnt part of the inquiry - which is the key to find out if this was indeed an observation or more of an intimidation. Tiner however said that it was both unacceptable and unprecedented. So why bother to find out what actually happened... and if they did not look into what exactly was done... how do they know its unprecedented?

So the inquiry is not looking into:

- motives

- actions

- main suspect

but limits itself to the written records of internal communication of the CS management team. How surprising that they did not find anything... one really could not make this up.
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Old 01.10.2019, 22:57
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Re: Private investigators chasing Zurich banker...

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How surprising that they did not find anything... one really could not make this up.
Sarcasm aside, I think it's actually what's to be expected. Rohner is prosecutor, directs the makeshift police, and renders the judgment as well. By keeping Thiam out of the fire, Rohner's merely protecting himself. The 50% drop in the share price is already way more than he'd be willing to pick up if given a choice.

If there's another affair that forces Thiam to leave, Rohner's likely to leave as well. Probably not immediately but rather shortly afterwards.
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Old 12.10.2019, 12:20
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Re: Private investigators chasing Zurich banker...

Credit Suisse’s Largest Investor Says Spygate Story Was Planted

https://www.bloomberg.com/news/artic...ry-was-planted
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Old 12.10.2019, 21:09
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Re: Private investigators chasing Zurich banker...

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.. he might get some golden parachute..

..I guess that means he will get all his short and long term benefits paid..

.. and probably another year or two of paid base salary on garden leave.
Wouldn’t those come under the heading of prohibited compensation payments under the Minder Ordinance?
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Old 12.10.2019, 21:34
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Re: Private investigators chasing Zurich banker...

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Wouldn’t those come under the heading of prohibited compensation payments under the Minder Ordinance?
I don’t think so: the point of Minder was that the Swissair guys got five years of salary (!) paid just for them to leave... while they ran their shop into the ground. If a bank decides it wants a guy to leave but also not immediately join the competition do they continue to pay him for not working... strange but in the end “just” continuing his current salary instead of a massive package for no valid reason.
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  #52  
Old 28.10.2019, 10:33
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Re: Private investigators chasing Zurich banker...

UBS Wants Top Exec Iqbal Khan to Withdraw Criminal Complaint

https://www.bloomberg.com/news/artic...l-complaint-sz

As I am not a lawyer: Can he? I thought that in the case of criminal law the police will continue to investigate and the state attorney will decide on charges no matter if the victim doesnt want it?
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  #53  
Old 28.10.2019, 13:38
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Re: Private investigators chasing Zurich banker...

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UBS Wants Top Exec Iqbal Khan to Withdraw Criminal Complaint

https://www.bloomberg.com/news/artic...l-complaint-sz

As I am not a lawyer: Can he? I thought that in the case of criminal law the police will continue to investigate and the state attorney will decide on charges no matter if the victim doesnt want it?
Not a lawyer either but having someone observed imo is not a Offizialdelikt (criminal offence liable to public prosecution) but an "Antragsdelikt" (criminal offence prosecuted only upon application by the victim).
Therefore - if that is correct - yes, the victim can withdraw the complaint.

What is not possible is an employer to tell an employee to do so!!!
And even if it started all for business-reasons, he was privately observed/followed. In fact, even his wife was affected, if only for being with the victim.
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  #54  
Old 28.10.2019, 15:36
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Re: Private investigators chasing Zurich banker...

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Not a lawyer either but having someone observed imo is not a Offizialdelikt (criminal offence liable to public prosecution) but an "Antragsdelikt" (criminal offence prosecuted only upon application by the victim).
Therefore - if that is correct - yes, the victim can withdraw the complaint.

What is not possible is an employer to tell an employee to do so!!!
And even if it started all for business-reasons, he was privately observed/followed. In fact, even his wife was affected, if only for being with the victim.
I thought the case is based on threatening behaviour and Nötigung (coercion?), so art. 180 and 181. I am no lawyer, but it would be bizarre if a person can withdraw a case like that. So you go to the cops because some criminal threatens you... then then cops go to the guy and interview him, in turn he threatens you more and you get scared... so you withdraw your case and the guy walks away? Thats probably not how it works... I hope.
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Old 28.10.2019, 15:54
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Re: Private investigators chasing Zurich banker...

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I thought the case is based on threatening behaviour and Nötigung (coercion?), so art. 180 and 181. I am no lawyer, but it would be bizarre if a person can withdraw a case like that. So you go to the cops because some criminal threatens you... then then cops go to the guy and interview him, in turn he threatens you more and you get scared... so you withdraw your case and the guy walks away? Thats probably not how it works... I hope.
I did not study this case closely.
Coercion is indeed a criminal offence liable to public prosecution.
But employing detectives is not coercion.
Leaves the question whom did the victim actually denounce:
Credit Suisse (or employees of it) for having him observed or the detectives for doing a rough job of it?

If it was the detectives I sure wonder why UBS would want the victim to withraw?

Oh, and if UBS "inisist" on withdrawal, that would be coercion

Although this could be an interesting case, as I mentioned I did not concern myself too much with it, so I won't try to study more details.
The reason I did not put further interest into this is because what I read when it started I got the impression, it was a bloody Kindergarten between men in positions where I simply expect decent, grown up behaviour.
I know in times of Trump and Johnson that is a ridiculously Swiss attitude.
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  #56  
Old 18.12.2019, 15:53
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Re: Private investigators chasing Zurich banker...

For those of you who dont follow Swiss news: NZZ is running a new, detailed series on the case and has revealed the CS was also spying on their head of HR, Peter Goerke, last year... days before he was dismissed.


https://www.nzz.ch/wirtschaft/affaer...ert-ld.1528911
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  #57  
Old 23.12.2019, 18:03
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Re: Private investigators chasing Zurich banker...

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Credit Suisse admits to second spying case!
The bank had already apologized for spying on former wealth management head Iqbal Khan, who has subsequently moved on to rivals UBS. It has now been forced to repeat this message regarding its former head of human resources Peter Goerke.
Source

As posted here earlier, this case was known about but now CS has admitted it.
Wonder what else will come out now; FINMA is claimed to be investigating
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  #58  
Old 23.12.2019, 18:08
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Re: Private investigators chasing Zurich banker...

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As posted here earlier, this case was known about but now CS has admitted it.
Wonder what else will come out now; FINMA is claimed to be investigating
And obviously did nobody in the top level have any idea or approved spying on the head of HR. Because that’s clearly so small that Bouee would forget about mentioning it to the CEO...
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  #59  
Old 23.12.2019, 18:22
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Re: Private investigators chasing Zurich banker...

While not very classy, most (all?) companies engage in these tactics to some degree. Corporate world is dirty and full with nasty behavior... CS is no exception, rather is the norm. I've seen it myself multiple times.
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  #60  
Old 03.02.2020, 11:41
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Re: Private investigators chasing Zurich banker...

There have been multiple articles with loads of details over the past weeks… lining out that the case might be extreme, but not exceptional in the sense that CS has under Thiam a culture of spying and threats.

The CEO even started to reply to the claims personally on Instagram (of all possible communication channels…)


Tomorrow will the CS board meet again and the press keeps hyping up that they might take actions this time round looking at the continuous reputational damage. I personally dont think so as the biggest shareholder has publicly backed the CEO and fired shots against the board… but who knows...
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