Credit Suisse has condemned its “inexcusable” spying on another of its top executives, blaming its former chief operating officer Pierre-Olivier Bouée.

The bank said press allegations it spied on Peter Goerke had been proven correct by internal and external investigators and that Mr Goerke, an executive board member at the time, “was placed under observation by a third-party firm on behalf of Credit Suisse for a period of several days in February 2019”.

The incident mirrors that of one involvi...