Credit Suisse’s chief executive Tidjane Thiam has resigned following a spying scandal at the bank.
Mr Thiam is stepping down after five years at the Swiss bank after it emerged two former employees had been placed under surveillance.
Mr Thiam said he did not know the spying was taking place.
But he said: “It undoubtedly disturbed Credit Suisse and caused anxiety and hurt. I regret that this happened and it should never have taken place.”
The scandal initially came to light in September when an external probe found the bank’s former chief operating officer, Pierre-Olivier Bouée, had hired private detectives to track its former head of wealth management Iqbal Khan.
Credit Suisse later admitted its former human resources head Peter Goerke had also been tailed, prompting an investigation by Swiss financial watchdog FINMA.
The bank’s board unanimously accepted Mr Thiam’s resignation on Friday.
It also declared its support for chairman Urs Rohner, who Credit Suisse’s lead independent director Severin Schwan said “has led the board of directors commendably during this turbulent time”.
Mr Schwan said: “After careful deliberations, the board has been unanimous in its actions, as well as in reaffirming its full support for the chairman to complete his term until April 2021.”