Credit Suisse to decide on executives’ fate soon

Embarassing scandal: The headquarters of Credit Suisse stands at the Paradeplatz square in Zurich. The drama at Credit Suisse has transfixed Zurich financial circles since it emerged that the bank hired a private investigation firm to shadow its former employee. — Reuters

CREDIT Suisse Group AG’s board is set to decide on the fate of top executives implicated in the surveillance of former wealth management head Iqbal Khan early next week as it seeks to find out who was responsible for the bank’s most embarrassing scandal in recent years.

Law firm Homburger is in the final stages of a probe into the spying operation, people familiar with the matter said. One of Switzerland’s top corporate law firms, it’s spent recent days interviewing bank officials and reviewing whether the surveillance was justified, legal and ethical, the people said, asking not to be identified as the matter is private. It’s also probing whether a rift between Khan and chief executive officer Tidjane Thiam harmed the bank’s reputation.