Antonio Horta-Osorio, former chairman of the Credit Suisse Board of Directors
Horta: “I am sorry that some of my personal actions have caused difficulties for the bank and affected my ability to represent it”
A little less than a year after the appointment, Antonio Horta-Osorio he resigned from the presidency of Credit Suisse. Called in April to give the Swiss bank a fate and bring it into the era of bank risk, the former Goldman Sachs, must already go. The reason? The storm on the indiscretions related to the periods of Covid quarantine not respected and related “lies” they brought the board of credit to “cut”.
Instead of Antonio Horta-Osorio the supervisory body has therefore designated Axel Lehmann, former president of UBS, as reported in a press release released overnight by the Swiss bank: “Credit Suisse today announces that the Board of Directors has appointed as president with immediate effect Axel Lehmann“that” takes the place of Antonio Horta-Osorio, who resigned after an investigation by the Board of Directors “.
“I am sorry that some of my personal actions have caused difficulties for the bank and affected my ability to represent it internally and externally,” said Horta-Osorio, who holds dual Portuguese and British citizenship, quoted in the note. “I have therefore come to the conclusion that my resignation at this time is in the best interest of the bank and its shareholders. I wish my colleagues to Credit Suisse all the best for the future “, added the former chairman of the board of directors.
At the end of December the Board of Credit Suisse he was investigating two violations of quarantine regulations anti-pandemic by its president occurred in Switzerland and the United Kingdom. A spokesperson for the institution had declined to comment on these rumors but, previously, the bank had confirmed that at the end of November Horta-Osorio had ignored the quarantine rules in force at the time, after returning to Switzerland from the UK.
On that occasion, the manager he apologized. But in December it emerged that one would happen second alleged violation of the obligation of isolation when the former chairman of the Board of Directors participated in the finals of the tennis tournament of Wimbledon last July (read here to find out more).
The appointment of Horta-Osorio as chairman of the board of directors it had been seen as the opening of a new chapter for an institution bent by billionaire losses due to the failures of the Anglo-Australian company Greensill and the American Archegos. At the time of appointment, Horta-Osorio had declared that it would promote a culture aimed at strengthen risk management, establish the right incentives and focus on personal responsibility.
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