I am sureprised this story did not make it on here yet as it was all over the news the last days: A rather important banker is leaving Credit Suisse and joining UBS. During his garden leave does he get the impression that he is getting followed, snaps some pictures of the men in question who then apparently confront him in central Zurich and try to snatch his mobile phone. What happens then exactly is disputed, but the banker called the cops, got three "private investigatoes" arrested, CS admits they hired them. Apparently to find out if he is trying to hire more CS staff away during his garden leave, which would break his settlement contract.

Its all a bit too much James Bond and not quite Swiss banking...
https://www.blick.ch/news/wirtschaft...d15529555.html

intriguing, must follow story. i'm still getting over 1MDB scandal and those involved here. And the fact that Jho Low is still on the run...

Google Marco Illy.

And him and his chef with whom he has so much trouble are neighbours

Such a shame for my curiosity that we most likely will never hear the complete story with all fancy details..

He only has three months of notice between his jobs... which is very uncommon in his position. Word is that he was kicked out by Thiam but at the same time has something against him or the bank to get a deal like that.

Thiam does not seem to be doing too well with Rohner either... who now in turn has the direct oversight over the investigation into the case with the private investigators... its a real life soap opera...

swissinfo reporting it now (EN)


https://www.swissinfo.ch/eng/spy-sto...ected/45250976

Who did CS hire to follow him. The Keystone Cops?

http://webcache.googleusercontent.co...&client=safari

At least people who have a website from that Era.

Well, some new details are leaking and the private villa plays a part... most of it in Tagesanzeiger behind a paywall, but Inside Paradeplatz does the low quality version for free:

- Thiam and Khan apparently had some serious fight at an alcohol fueled party in Herrliberg in spring... The CEO apparently threatened his employee with physical violence for "insulting his girlfriend".
- That fight (and the fact that he had witnesses who saw him getting threatened by the CEO) apparently made him leave the bank but also caused the deal to let him go so quickly...
- the guy still felt threatened and hired private body guards
- after being on garden leave and having announced to go to UBS he stopped the bodyguards... and this sort-of-assault happened
- Khan apparently did not link it to CS at all, but even went to Credit Suisse security to tell them about the incident... not knowing it was them who hired the "private investigators"
- those investigators were from the look more the sort of "security" working as bouncers and not really the sort that can hide well in a business setting and spy on a banker... so it really smells more of a case of threatening than "we needed to find out if he is hiring our staff away".

That story keeps on giving. I hope that hiring bullies to threaten somebody you dont like does not go unpunished. Thiam should do the right thing and go back into politics where this sort of behaviour is apparently normal (in Cote Ivoire...)

This post was interesting up to, but not including the weird ending.

I have no intention to offend anyone, sorry if I did.

I find the actions taken by the top level of CS unacceptable for a Swiss bank or any other business in Switzerland. The CEO happens to have been a politician in a third world country and to me the behaviour fits very well to an autocratic politician... but thats just me.

Cherchez la femme

He spent a career with blue blooded Mckinsey, ran Aviva, then Prudential the two bluer than blue 1st world insurers. Studied AND graduated top of the class at Ecoles in Paris and later INSEAD. But yes, for you his birth in a political family and 4 years in Ivory Coast bureaucratic role defines him above everthing else. Thats just me.


Edit: Must add, I am not his fan. But not because of his heritage or birth.

All I can say is that according to the news Khan took his threats so serious that he hired bodyguards. We all had a bad boss before, but there is a guy fearing for his life and spending money on the protection of his family. He is not protecting himself from some Mafia Don, but the CEO of a bank. Does this sound like a 1st world problem to you? Does McKinsey teach this sort of behaviour or is it INSEAD? I dont care about his heritage and to my surprise have very few Swiss done so in the past years. But I do care about his behaviour. Not just from an ethical stand point: this CS stock tanked the last couple of days since the news broke. Not as if Thiam was hugely successful before but now its really enough.

wow this feud, drama just keeps making the news...UBS seems so boring in comparison and the drama could be lifted out of the pages of EF too, what with neighbour complaints etc


"Personal animosity grew when Mr Khan bought, knocked down and redeveloped the house immediately next to his boss in the Herrliberg area on the north-eastern “gold coast” of Lake Zurich.
The construction work lasted for almost two years, including over some weekends, leading to Mr Thiam making a complaint to Credit Suisse chairman Urs Rohner about his subordinate, said one person familiar with the situation. Mr Khan insisted the property he bought had been in his wife’s family for years and he had done nothing wrong.
After Mr Khan moved into the newly renovated house, which shares a fence with Mr Thiam’s, the CEO hosted a cocktail party in January for colleagues, people from the neighbourhood and some friends. Mr Khan and his wife attended.
At the party, Mr Khan fell out with Mr Thiam’s partner over a dispute about some trees planted on the Thiam property. "


https://www.swissinfo.ch/eng/bankers...king-/45257584



.

__________________

be the glitch you want to see in the matrix

Well, they obviously have the usual expat problems like not knowing where wo complain about what.
They should have joined the EF and all this would not have happened

So, from your post, we can ascertain that it's not just expats but locals who have exactly the same problems.

Glad we cleared that one up.

D'you mean they're really not here, walking amongst us? Oh!

Probably the red pebbled ones that get banned within 2 days

Wow. Lol. Are they for rea....ahm, never mind.
A case of completely bored out of their minds rich people?