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Prosecutors probe claims of threats by ex-Credit Suisse exec as he moves to UBS

Swiss prosecutors have opened a criminal inquiry after Credit Suisse Group AG allegedly hired private detectives to follow its former wealth management head Iqbal Khan who is set to join rival UBS Group AG and claims to have been threatened, the Zurich attorney's office said Sept. 23.

Swiss newspaper SonntagsZeitung reported Sept. 22, without naming sources, that Credit Suisse had hired three private detectives to investigate whether Khan was trying to lure its employees to his new bank where he will take on the same role. Reuters said the Zurich attorney's office said Khan filed a criminal complaint Sept. 17 alleging threats and coercion, though he did not say who made the threats or what they were.