A Dispute Over Garden Trees Leads to Espionage Scandal at Credit Suisse

This year, the usually calm realm of Swiss banking was shaken by a scandal involving Credit Suisse, espionage, and a disagreement over trees. The controversy reached its peak with the resignation of Credit Suisse's chief operating officer, Pierre-Olivier Bouée, in October. The main figures in the saga were chief executive Tidjane Thiam and former head of wealth management, Iqbal Khan.

The two, who were neighbors as well as colleagues, reportedly fell out over trees that Mr. Khan had planted, which Mr. Thiam claimed encroached on his property. After Mr. Khan announced his move to rival firm UBS, it was revealed that Mr. Bouée had hired private investigators to follow him, fearing he might lure away Credit Suisse clients.

There is no evidence to suggest that Mr. Thiam was aware of the surveillance.