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    CSGN   CH0012138530

CREDIT SUISSE GROUP AG

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Credit Suisse : Former Credit Suisse security head targeted in Swiss regulator's investigation

10/24/2021 | 09:59am EST
FILE PHOTO: Switzerland's national flag flies above the logo of Swiss bank Credit Suisse in Zurich

ZURICH (Reuters) - Credit Suisse's former head of global security services is one of three people targeted in a new investigation announced last week by Swiss financial markets watchdog FINMA following an espionage affair at the bank, a lawyer told Reuters on Sunday.

Zurich-based lawyer Andreas Josephsohn confirmed his client was one of three individuals targeted by the proceedings, speaking on condition his client wouldn't be named.

Swiss newspaper NZZ am Sonntag was first to report that the former head of security services was a target of the investigation.

"As a matter of principle, we do not comment on specific FINMA enforcement matters nor on any speculation related to third parties, former or current employees," a Credit Suisse spokesperson said.

FINMA said last Tuesday that it found "serious organizational shortcomings" surrounding how the bank managed and controlled the observation of some of its top executives and former employees between 2016 and 2019 in its proceedings against the bank that have now concluded.

It opened an investigation looking at the knowledge and conduct of three unnamed individuals to determine their responsibility in the context of violations of supervisory law FINMA identified at the Swiss bank.

In October 2019, the bank's chief operating officer at the time, Pierre-Olivier Bouee, and the head of global security services resigned over a snooping affair that ultimately also triggered the departure of former Chief Executive Tidjane Thiam.

(Reporting by Silke Koltrowitz; Editing by Susan Fenton)


ę Reuters 2021
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Financials
Sales 2021 22 793 M 24 741 M 24 741 M
Net income 2021 -111 M -120 M -120 M
Net Debt 2021 - - -
P/E ratio 2021 -73,1x
Yield 2021 1,23%
Capitalization 21 208 M 22 934 M 23 022 M
Capi. / Sales 2021 0,93x
Capi. / Sales 2022 0,98x
Nbr of Employees 49 950
Free-Float 90,2%
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Number of Analysts 21
Last Close Price 8,87 CHF
Average target price 10,97 CHF
Spread / Average Target 23,7%
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Thomas Gottstein Chief Executive Officer
David Richard Mathers Chief Financial Officer
Antˇnio Mota De Sousa Horta-Osorio Chairman
James Walker Chief Operating Officer
Thomas Grotzer Global Head-Compliance
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