CS Credit Suisse Group

By Margot Patrick 

A former Credit Suisse Group AG executive has told top bank executives and U.S. and Swiss authorities she believes she was put under surveillance in July 2017 while in a dispute with the bank, two years before a separate spying scandal rocked Credit Suisse.

Colleen Graham, who worked for a joint venture half owned by the bank, said she believes a woman followed her over three days that month, allegedly in retaliation over her stance on an accounting issue at the joint venture, according to filings released Tuesday by a U.S. labor court.

Ms. Graham was previously Credit Suisse's compliance head for the Americas and spent 20 years with the bank before being selected to co-head the joint venture, called Signac. She wasn't an employee of the bank at the time of the alleged surveillance.

After reports in September this year that another former bank executive, Iqbal Khan, had similarly been trailed, Ms. Graham emailed Credit Suisse Chief Executive Tidjane Thiam, Chairman Urs Rohner and board member John Tiner with details of her alleged surveillance, according to emails reviewed by The Wall Street Journal. She asked them to investigate and to share her information with regulators and a law firm investigating the spying on Mr. Khan. Ms. Graham separately wrote to the investigating law firm, Homburger, and discussed the matter with a senior Homburger partner on Sept. 30, according to the emails.

Ms. Graham met with Swiss financial regulator Finma about her allegations in November, according to a person familiar with the matter. A Finma spokesman declined to comment.

On Oct. 1, Homburger released a report saying the bank's chief operating officer had ordered surveillance on Mr. Khan and that, "to date, the investigation has not identified any evidence that Credit Suisse had ordered observations of other employees." Mr. Rohner repeated that finding at a news conference, saying such surveillance was wrong, inappropriate and "not part of our toolbox." The chief operating officer resigned.

A Credit Suisse spokeswoman said the bank conducted thorough investigations into all of Ms. Graham's claims, including that she was followed, and found them to be baseless. Homburger didn't respond to a request for comment.

(END) Dow Jones Newswires

December 11, 2019 15:10 ET (20:10 GMT)

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