Top Credit Suisse Investor Says Don’t Fire Executives for Spying
- Harris Associates warns of damage if officials are ousted
- Board set to meet next week to review investigation results
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Credit Suisse Group AG’s top shareholder expressed alarm at the prospect of ousting top executives over the surveillance of former wealth management head Iqbal Khan.
“We are fully supportive of CS’s management actions taking any legal steps necessary to protect the company and think it would be damaging to CS and its stakeholders to lose any member of senior management over this issue,” said David Herro, deputy chairman of Chicago-based Harris Associates, which holds an 8.1 percent Credit Suisse stake.