Hundreds of alerts regarding a pattern of misconduct by a private banker at Credit Suisse over a six-year period were overlooked by the bank, a report has shown, as he siphoned off funds from billionaire clients to make unauthorised trades.

Credit Suisse was censured by regulator Finma in 2018 after Patrice Lescaudron, a private banker at the group, was sentenced to five years in prison for fraud and forgery that same year.