In September 2019, he became involved in a scandal with Iqbal Khan, a former employee of Credit Suisse who had transferred to UBS. Khan, Credit Suisse's former head of Wealth Management, accused Thiam of sending spies after him. The two, who were also neighbors, were alleged to have fallen out over personal issues earlier on. In October 2019, Credit Suisse cleared Thiam of ordering the botched surveillance. The Homburger inquiry presented its report to the Credit Suisse board and said that Pierre-Olivier Bouée (the Credit Suisse COO at that time), not Thiam, had independently made the call to follow Khan. Bouée resigned, although he has since said that he intends to sue the bank. Credit Suisse's head of global security also resigned.
