Monday, May 16, 2022

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Credit Suisse boss, Horta-Osorio, resigns

The chairman of global banking giant Credit Suisse, Antonio Horta-Osorio, has resigned after breaking Covid quarantine rules.

Mr Horta-Osorio, who was with the bank for just nine months, left following an internal investigation into his conducts.

The former boss of Lloyds Banking Group joined Credit Suisse after a series of scandals at the Swiss bank.

But it has emerged he breached Covid rules last year, including by attending the Wimbledon tennis finals.

“I regret that a number of my personal actions have led to difficulties for the bank and compromised my ability to represent the bank internally and externally,” Mr Horta-Osorio said in a statement issued by the bank.

“I therefore believe that my resignation is in the interest of the bank and its stakeholders at this crucial time,” he added.

Mr Horta-Osorio has been replaced by board member Axel Lehmann.

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