Credit Suisse reinstates independent reviewer on Nazi account probe

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Written By Pinang Driod

© Reuters. FILE PHOTO: A Swiss flag is pictured above a logo of Swiss bank Credit Suisse in Bern, Switzerland, November 15, 2023. REUTERS/Denis Balibouse/File Photo

NEW YORK (Reuters) – Credit Suisse has reinstated an independent reviewer to oversee an investigation into the servicing of Nazi clients and Nazi-linked accounts, according to U.S. lawmakers who have probed the issue.

Credit Suisse has agreed to reinstate Neil Barosky, who had previously been removed form his role as ombudsman to oversee the bank’s internal investigation, Chuck Grassley and Sheldon Whitehouse of the Senate Budget Committee said in a joint statement.

THE TAKE

The reinstatement comes after the Senate committee said the Swiss bank hampered a multiyear investigation into allegations levied by a human rights organization that the bank held potential Nazi-linked accounts. The lawmakers’ probe found the bank “inexplicably terminated” Barofsky.

THE QUOTE

“A clear-eyed and historically complete evaluation of Credit Suisse’s servicing of Nazi-linked accounts demands painful facts to be met head on, not swept aside,” the lawmakers said in their statement.

THE RESPONSE

UBS, which acquired Credit Suisse this year, and Barofsky did not immediately respond to requests for comment.

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