Investment Banking

Private spy: Credit Suisse scandal captivates Swiss banking

Credit Suisse expects to reveal its findings into what went wrong on the streets of Zurich and who knew about the sleuthing

Iqbal Khan, former CEO of international wealth management at Credit Suisse, attends the company's annual shareholder meeting in Zurich in April
Iqbal Khan, former CEO of international wealth management at Credit Suisse, attends the company's annual shareholder meeting in Zurich in April Photo: Reuters

For several days in September, a private investigator hired by Credit Suisse trailed the bank’s former wealth management head, Iqbal Khan, through Zurich, snapping photos along the way. The mandate: Find out whether he was trying to recruit colleagues to his new employer, UBS.

On September 17, Khan spotted the investigator, people briefed on the events said, triggering a scandal that followed months of tensions between the banker and his former mentor, Credit Suisse chief executive Tidjane Thiam.

WSJ Logo