Credit Suisse launches internal investigation after offices searched in tax probe

Stefano Rellandini | Reuters

Credit Suisse

Credit Suisse is conducting an internal investigation over whether staff breached compliance rules after three of its offices were searched in tax evasion probes, the head of its International Wealth Management division said on Friday.

"The investigation will be executed by compliance, it will not be executed by the business," Iqbal Khan, who is responsible for Credit Suisse's private banking operations outside Switzerland and Asia Pacific, said in a telephone interview with Reuters.

"If any individuals are implicated or have violated against these processes or procedures or policies that are in place then we will identify that very quickly."

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