Credit Suisse reportedly had a top banker followed by detectives before he joined rival firm UBS

Business Insider Finance 1 month ago

Credit Suisse hired detectives to tail its former star banker Iqbal Khan before he joined rival firm UBS, according to a Bloomberg report.

The ex-CEO of Credit Suisse's International Wealth Management unit was followed by unidentified men while driving with his wife last week. Khan noticed he was being tailed and photographed the passengers in the following vehicle.

The pursuit led to a physical altercation in Zurich when the pursuers attempted to take Khan's phone and the photos he took, people familiar with the events told Bloomberg.

Khan's previous employer sought to find whether the private banker was convincing other ex-Credit Suisse staff to join him in moving to UBS, the report found. Khan is on leave from Credit Suisse before starting his new role as UBS's co-head of wealth management October 1.

The dramatic events followed Khan's unexpected exit from Credit Suisse after disagreements with CEO Tidjane Thiam in July. Khan quickly rose through the Swiss bank's ranks and was viewed by some as a potential successor to Thiam.

Three men were arrested after the pursuit and Khan's complaint to Zurich law enforcement. An investigation into the events is ongoing.

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