Credit Suisse Group AG said March 4 that it will review its handling of an alleged sexual assault of a female employee by a male manager in 2010.
According to a report in the Financial Times, Credit Suisse CEO Tidjane Thiam promised the review in a letter sent late last week to the alleged victim in response to a correspondence she sent two months ago. Credit Suisse said Thiam only learned of the correspondence on Feb. 28 and promised a separate inquiry into why the alleged victim's letter did not receive a "timely response."
The alleged incident was reported to the police and investigated twice, but no criminal charges were filed and no disciplinary action was taken by the bank at the time, the company said.
"Credit Suisse has always treated allegations regarding harassment or assault with the utmost seriousness, and considers that it has a robust investigation and disciplinary framework in place to deal with them as and when they arise," the company said in a statement emailed to S&P Global Market Intelligence. The company noted that it announced a new set of company-wide disciplinary procedures on Feb. 28, following a review.
The review of the alleged incident will be conducted by the Group Conduct and Ethics Board, with Lara Warner, the bank's chief of compliance and regulatory affairs, taking charge of the process, the company said.
The female employee who made the allegation no longer works for Credit Suisse, but the male manager she accused of assault is still with the bank, a spokesman said by phone.
