Bouée becomes a danger for CS boss Thiam – business

He is the key figure in the Credit Suisse surveillance affair: former Chief Operating Officer, Pierre-Olivier Bouée. It was he who initiated the surveillance of both Iqbal Khan and ex-CS personnel manager Peter Goerke. Bouée, who has been closely involved with for almost 20 years Tidjane Thiam had worked with several companies, should never have informed the CS boss about the shading campaigns.

So far, Bouée has been silent about the events. But now the former long-time colleague Thiams could become a danger for the head of Credit Suisse.

When the big bank had the shadowing of Khan examined by the lawyers from Homburg, Bouée had kept Goerke’s persecution secret from the investigators. In doing so, he committed a breach of loyalty to CS. As a consequence, Bouée was released without notice. As a result, he loses his deferred bonus shares of CHF 4 million.

PR company turned on

According to the «Finews» portal, Bouée has now hired a lawyer and hired a PR company to deal with the dismissal. In terms of employment law, his chances of winning any lawsuit are slim.

“The question is rather whether he will blame Thiam in any way,” says a bank insider. Should Bouée explain that the Credit Suisse boss knew something about the shading, Thiam’s position threatens to be further weakened, my observer. Credit Suisse did not want to comment on this.

Based on the current state of knowledge, there is no evidence that Thiam knew anything. The bank boss himself asserted that he had no knowledge of the surveillance. If Bouée accuses Thiam, testimony would testify against testimony. It could be argued that Bouée’s credibility was damaged by the fact that a second surveillance operation had not been carried out. But many observers still have doubts about the official version that Thiam knew nothing. However, it seems completely unthinkable that the bank will compensate financially for what is done in some way. Because that would look like hush money.

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“Bouée is now standing with his back to the wall,” says a CS insider. Due to the scandal, his reputation is so far damaged that the Frenchman is unlikely to get a good job at a well-known financial institution. At 48, however, he is too young to retire to the old part and live off the savings.

Created: 1/24/2020, 9:32 PM

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