Credit Suisse says CEO Thiam resigns amid spying scandal The CEO of Swiss bank Credit Suisse is resigning after nearly five years on the job, saying that a spying scandal caused “anxiety and hurt” and tarnished the firm's reputationGENEVA -- Credit Suisse CEO Tidjane Thiam is resigning after nearly five years on the job, acknowledging that a spying scandal caused “anxiety and hurt” and tarnished the reputation of the top-drawer Swiss bank. The spying scandal erupted last year after the former wealth management chief, Iqbal Khan, said he was being spied upon by Credit Suisse after he joined rival bank UBS. "It undoubtedly disturbed Credit Suisse and caused anxiety and hurt. I regret that this happened and it should never have taken place.”Bouee and the head of the bank's global security services quit over the scandal, Credit Suisse said in October. “Under Tidjane’s leadership, Credit Suisse simultaneously re-purposed our strategy, restored our capital, reduced our costs, de-risked our business, promoted diversity and engendered an exceptional level of co-operation between various divisions,” he added.

Source: ABC News February 07, 2020 08:15 UTC