Credit Suisse’s C.O.O. Quits Over a Spying Scandal

Chief Operating Officer Pierre-Olivier Bouee, who worked as the CEO’s chief lieutenant at three companies for more than 10 years, stepped down after ordering detectives to shadow former wealth-management head Iqbal Khan to ensure he didn’t poach clients and brokers for his new post at UBS Group AG. The bank said that he acted alone...

Chairman Urs Rohner is seeking to contain a scandal that erupted in Swiss tabloids a week ago and escalated into a threat for the bank’s top leadership after a confrontation in downtown Zurich between Khan and the private detectives sent to spy on him.

Events took on an even more dramatic turn just before the bank’s announcement, when it emerged that a contractor hired by the bank to recruit the investigative agency took his own life. more