International Olympic Committee member Tidjane Thiam has resigned as chief executive of Credit Suisse following two spying scandals ©Getty Images

International Olympic Committee (IOC) member Tidjane Thiam has resigned as resigned as the chief executive of Credit Suisse following two spy scandals at the Swiss bank. 

Credit Suisse's Board unanimously accepted the resignation of Thiam at a meeting yesterday, claiming it was necessary to help restore trust in the institution.

The 57-year-old Ivorian had joined the IOC last June, having been identified for his business expertise rather than his links to sport. 

Thiam claims, however, in his official biography on the IOC website to have have practiced judo, taekwondo, football, handball, basketball and rowing, as well as competed in the 100 and 400 metres and high jump and long jump in athletics. 

He was one of 10 new members elected at the IOC Session in Lausanne last June.

As an individual member, Thiam is due to stay as on the IOC until he reaches the mandatory retirement age of 70. 

Tidjane Thiam, second right, was elected as an International Olympic Committee member in Lausanne last June ©IOC
Tidjane Thiam, second right, was elected as an International Olympic Committee member in Lausanne last June ©IOC

Thiam has been forced to step down at Credit Suisse following five years as chief executive after its former chief operating officer, Pierre-Olivier Bouée, was implicated in two separate spying operations.

One involved the bank's former head of wealth management Iqbal Khan, who had joined rivals UBS, leading to fears he may poach key Credit Suisse staff. 

The bank claimed Bouée had ordered surveillance of Khan to protect its interests.

Bouée stood down when details of the operation emerged. 

More recently, he was blamed for ordering a spying operation on Credit Suisse's former head of human resources for several days last February. 

Thiam is due to step down following the presentation of 2019's fourth quarter and annual results next week.

Tidjane Thiam, left, was elected as an IOC member despite having little connection to sport ©Getty Images
Tidjane Thiam, left, was elected as an IOC member despite having little connection to sport ©Getty Images

"I had no knowledge of the observation of two former colleagues," Thiam, who holds dual Ivorian and French citizenship, said in a statement.

"It undoubtedly disturbed Credit Suisse and caused anxiety and hurt. 

"I regret that this happened and it should never have taken place.

Credit Suisse claimed previously that Bouée had not informed Thiam or any other member of the bank's senior leadership of the surveillance on Khan. 

It added in December that it found no indication that Thiam and other members of the Executive Board or Board of Directors knew anything about the second spying case until the media reported on it.

Bouée and Thiam worked closely together for nearly two decades at various firms before joining the Swiss bank, according to their Credit Suisse biographies. 

Tidjane Thiam, third right, had previously worked for British insurance company Prudential, sponsors of the RideLondon cycle event, which then London Mayor Boris Johnson, third left, helped launch ©Getty Images
Tidjane Thiam, third right, had previously worked for British insurance company Prudential, sponsors of the RideLondon cycle event, which then London Mayor Boris Johnson, third left, helped launch ©Getty Images

The pair were at McKinsey in Paris between 2000 and 2002. 

Bouée followed Thiam to British insurer Aviva in 2004. 

They both joined Prudential, another British insurer, in 2008 before heading to Credit Suisse in 2015.

The IOC claimed the scandal would not affect his position with the Olympic Movement. 

"Mr Thiam resigned from Credit Suisse and this is a matter which does not concern the IOC," an IOC spokesperson told insidethegames.

"Therefore, it has no impact."