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Credit Suisse Investigation Into Husband/Wife Leak Raises More Questions Than It Answers

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Such as:

1. Is it standard practice at Credit Suisse to tell traders at other banks, "Hey, we might buy this stock"? Because Zoe Henderson has worked in a lot of offices and people do that all the time.

Credit Suisse has accused the trader, Zoe Henderson, of improperly sharing client communications with her husband, a London-based trader at a rival bank, via electronic chat rooms, the people said...At Credit Suisse, the examination of chat-room records revealed that Ms. Henderson, who has been at the bank since 2004, on multiple occasions during the past several years shared Credit Suisse communications with her husband, Toby Henderson, a London-based equities trader at Royal Bank of Canada, according to the people familiar with the probe. Some of the communications described Credit Suisse clients' interest in buying or selling stocks, price ranges of upcoming public offerings, or updates on corporate mergers or other deals, the people said...Ms. Henderson has told Credit Suisse lawyers that it was normal practice for traders other than her to send messages indicating interest in certain stocks to traders at rival banks, and that the practice didn't hurt clients, according to a person familiar with the probe.

2. Why were Credit Suisse traders (allegedly!) making viewings of adult videos a group activity?

2a. the office?

Credit Suisse's chat-room trawls also unearthed communications in which Ms. Henderson complained about what she described as improper and lewd behavior by her colleagues on the pan-European equities sales trading desk, according to the people familiar with the probe. She subsequently told bank officials that the traders' behavior was condoned and sometimes encouraged by managers.

That prompted Credit Suisse supervisors and lawyers to interview several traders and managers on her desk about the alleged behavior, including instances when male employees supposedly gathered in the office to watch sex videos on their mobile phones, the people said.

Credit Suisse Conducts Internal Probe Into Alleged Trader Misconduct [WSJ]


Layoffs Watch '12: Credit Suisse

Cuts are going down at the House of Dougan today. From the front lines: "Layoffs started at Credit Suisse this morning, across the investment bank. All levels affected, including a good amount of senior guys." Apparently these reductions are part of a round cuts announced last year and were to be expected (though the "let's have a chat" from HR this morning may still have been a slight surprise for those being asked to take a seat).

Layoffs Watch: Credit Suisse

The House Of Dougan has apparently said Do svidaniya to a handful of comrades.