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New Delhi (CNN Business)A senior executive at one of Europe’s largest banks stepped down Tuesday after an investigation found that he ordered a surveillance operation to spy on an employee who joined a crosstown rival.

Bouée admitted during the investigation by a law firm that he had asked Credit Suisse’s head of global security to place Iqbal Khan, head of wealth management, under observation in late August after rival bank UBS (UBS) announced Khan would be joining them.
He had ordered the surveillance on Khan “in order to protect the interests of the bank” and had not informed CEO Tidjane Thiam or any other member of the bank’s senior leadership, Credit Suisse said in a statement.
    The investigation “did not identify any indication that the CEO had approved the observation of Iqbal Khan nor that he was aware of it prior to [September 18] after the observation had been aborted,” it added.
    Credit Suisse’s head of global security has also resigned with immediate effect.
    Bouée reportedly feared that Khan would try to encourage Credit Suisse colleagues to join him at UBS, but neither the external investigators nor the bank’s surveillance found “any evidence that Iqbal Khan had attempted to poach employees or clients away from Credit Suisse,” the bank said.
      Bouée will be replaced by James Walker, a senior executive at Credit Suisse’s finance division.
      This is a developing story

      Read more: https://www.cnn.com/2019/10/01/business/credit-suisse-coo-resigns-iqbal-khan/index.html