Embattled Credit Suisse chief Thiam steps down

Credit Suisse, which has been rocked by a spying scandal, announced on Friday that chief executive Tidjane Thiam had resigned and would be replaced by the current head of the bank's Swiss operations.

"The Board of Directors of Credit Suisse Group has unanimously accepted the resignation of Tidjane Thiam and appointed Thomas Gottstein as the new CEO of Credit Suisse Group," the bank said in a statement.