Chairman Urs Rohner turned to Thomas Gottstein, a two-decade Credit Suisse
veteran, to restore investor confidence after ousting Thiam. The bank said in a statement Wednesday that it takes note of Finma’s decision and will continue to fully cooperate.
“The Board of Directors and the Executive Board of Credit Suisse
agree and unequivocally affirm that the observation of employees is not part of the culture of Credit Suisse,” Credit Suisse said. “No further comments can be made at this stage until findings are presented by Finma.” An internal Credit Suisse probe had concluded that Thiam didn’t know about the spying, and that Chief Operating Officer Pierre-Olivier Bouee was responsible. Bouee was fired late last year.
Finma launched its own investigation in December, appointing an independent auditor to clarify corporate governance questions and the use of electronic communications in connection with the spying.
Finma undertakes enforcement proceedings after concluding initial investigations. Based on the evidence and responses from the concerned parties, Finma decides on the measures to be imposed.