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Credit Suisse Group AG said Monday that its investigations have confirmed that Peter Goerke was placed under observation on behalf of the bank, and that no indication was found that Chief Executive Tidjane Thiam or other board members knew of this before the story was reported in the press.
The Swiss bank CSGN, -1.02% said both its own internal investigation and an external investigation by law firm Homburger AG found that Mr. Goerke, then a member of the company’s executive board, was placed under observation by a third-party firm for several days in February this year.
Credit Suisse’s board of directors said the observation of Goerke was “unacceptable and completely inappropriate.”
The investigation concluded that it was Pierre-Olivier Bouee, then chief operating officer of the lender, who ordered the observation, Credit Suisse said.
Bouee resigned from his post earlier this year after an investigation into the observation of Iqbal Khan, former wealth-management head of Credit Suisse. The investigation found that Mr. Bouee ordered the observation of Mr. Khan.
“As a consequence of the Iqbal Khan matter, the board of directors has already put safeguards in place to ensure that such incidents are not repeated,” the company said.
Homburger’s investigation didn’t find any indication that Credit Suisse Chief Executive Tidjane Thiam, other members of the executive board, or directors of the company had any knowledge of the observation of Goerke until the media reported on it, the bank said.
