Credit Suisse CEO Tidjane Thiam Quits After Boardroom Battle

Credit Suisse CEO Tidjane Thiam on Thursday resigned in the wake of a spying scandal at the bank.

Iqbal Khan, formerly head of Credit Suisse’s wealth management division, was tailed by private investigators working on behalf of the bank last year, leading to a public confrontation in Zurich.

“I had no knowledge of the observation of two former colleagues. I regret that this happened and it should never have taken place. I am proud of what the team has achieved during my tenure. We have turned Credit Suisse around.” Mr. Thiam said in his resignation statement on Friday.

The bank's largest shareholders had publicly called for him to be retained.

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