This Thriller has all the makings of a Blockbuster: a suspicious large Bank, which shaded their former died anchor, an arrest and a severe suspicion The history of Credit Suisse and its former chief asset Manager Iqbal Khan (43) is a scandal.
As the financial Inside parade blog reported: “square” on Friday, to died have shaded the Credit Suisse to UBS overflowed anchor Khan. The “Frankfurter Allgemeine Zeitung” put yesterday, and reported, a police command have arrested three detectives. Sunday view white: The Whole is much worse.
The story begins after the Abschiedsapéro, the CS-CEO Tidjane Thiam on Tuesday a week ago for its outgoing chief asset Manager, Iqbal Khan gave. Khan had been terminated in July 2019.
Still the astonishment prevails about why the high-Flyer left the Bank. Because the head of the global asset management had an excellent performance record and was traded as a hot candidate for Thiams succession. Then suddenly, it stopped.
Kahn is filming his pursuers
A week after the aperitif, the CS reported in their Intranet about the Event. Since the Bank has recognised long ago the three professional Tail on Khan. However, the detectives do their Job badly, as an Insider reported, compared to Sunday views.
last Wednesday, Khan is traveling with his wife, than him, three men stand out. Follow the Couple for a long time. Striking for a long time. Khan pulls out his cell phone and begins the three-tracker to the movies. Then it comes to a head. The pursuers try to snatch them out of Khan the mobile phone. Unsuccessful. Khan fights back, the men look into the Distance.
The Banker switches to the police. Then he calls the head of security of Credit Suisse. The offers Kahn, protection of persons and technical equipment, including a hand-held transmitter, with which the Persecuted Alarm can be beat. Even Khan does not suspect that the same chief of security has given the order for the Surveillance.
Why should a Bank with a departing employee monitor? Probably because you suspect him of other employees to poach, and to the competition lift. In fact, the Insider reports of serious tensions between the CEO Thiam and his prize pupil Khan.
Was too much ambition behind it?
It had begun the story so beautiful. 2015 Tidjane came Thiam as the new CEO for Credit Suisse. He missed the Bank with a strategic reorientation: away from investment banking to Private Banking. The global asset management should be strengthened. Thiam showed courage and continued the former auditor Iqbal Khan to the top of this Central area.
Khan was only 39 years old and a Nobody in the Banking. But he was highly motivated, moved into a Villa next to those of his boss in the noble Herrliberg ZH, and went to work. He was extremely successful, and increased the assets under management and improved the outcome massive. Behind this hard work, rigorous discipline and a large Dose of ambition to get stuck. Too much ambition, apparently. Because Khan wanted to expand his range and his influence increase. Until it was his Boss too much.
It came to the final break between the two alpha animals, such as the Insider reported. It’s supposed to be violent confrontations and threats. Khan let himself and his family in the Wake of a security company to protect. And: Khan, way just wanted.
Kahn must be something left in the Hand have
In July 2019 it the CS draw. At the beginning of October he will be responsible for the global asset management of UBS. A change after only three months, without the prohibition of competition? This is in the industry is absolutely unusual. Khan must have something in Hand, what could he use against the CS.
The three professional Tail, the have Khan succeeded this week, in a commando action and temporarily in custody plugged in have been arrested. The Zurich Prosecutor’s office has opened a criminal case due to duress and threat. And apparently, the financial market Supervisory authority Finma in case interested. Don’t want to comment on that.
Also, Credit Suisse does not want to speak to the matter.
The crime is not yet to end. Open-ended questions are in the room. And a serious suspicion: What is the role of the CEO Thiam has played in the whole affair? Also, Credit Suisse is silent.