A pedestrian walks by a Credit Suisse Group AG bank branch in Geneva, Switzerland (Photographer: Stefan Wermuth/Bloomberg)  

Credit Suisse Fires Two Bankers Over 2010 Sex Assault Case

(Bloomberg) -- Credit Suisse Group AG fired two bankers after it concluded an investigation into a sexual assault that dates back to 2010, according to a person familiar with the situation.

The incident took place eight years ago and the bank has been recently reviewing how it handled an allegation that a male employee assaulted a female subordinate then. The case was probed twice by London police and resulted in no criminal charges or disciplinary action by the bank.

Credit Suisse declined to comment on the firings, which were reported earlier Thursday by the Financial Times.

The alleged victim wrote to Chief Executive Officer Tidjane Thiam about the incident at the start of this year and didn’t receive a timely response, Credit Suisse said in an emailed statement earlier this year. Thiam didn’t see the correspondence until Feb. 28, and has ordered a separate internal inquiry as to why he wasn’t made aware of it earlier.

Lara Warner, the bank’s chief of compliance and regulatory affairs, is leading the review of the case. The 2010 incident involved a male in a middle-management role and his female junior, and was reviewed internally at the time, the bank has said.

Credit Suisse at the end of February informed employees of changes to its disciplinary procedures that standardized policies across the bank. That followed a “root and branch review” of its procedures that was unrelated from the alleged 2010 incident.

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