FRANKFURT (S&P Global Ratings) Oct. 1, 2019--S&P Global Ratings today said that the announcement by Credit Suisse Group AG of the replacement of the group's chief operating officer (COO), Mr. Pierre-Olivier Bouée, and the reputational damage associated with the uncovered surveillance of a former executive board member are unlikely to affect our ratings on Credit Suisse. Nevertheless, we believe these events and related management turnover could yet weaken the group's strategic execution--something that had become a relative strength in recent years. Mr. Bouée resigned in the wake of an investigation into the surveillance of Mr. Iqbal Khan, former CEO of the International Wealth Management division, following his decision to leave Credit Suisse and join UBS AG. The independent investigation, commissioned
