Credit score Suisse says its chairman has resigned following an inner probe that reportedly turned up that he had violated quarantine guidelines supposed to struggle the COVID-19 pandemic
GENEVA — Credit score Suisse says its chairman has resigned following an inner probe that reportedly turned up that he had violated quarantine guidelines supposed to struggle the COVID-19 pandemic.
The resignation of Antonio Horta-Osorio, a British-Portuguese nationwide who took the job barely eight months in the past, was introduced shortly after midnight Monday. It’s the newest upheaval on the top-drawer Swiss financial institution that has confronted an array of latest troubles, together with dangerous bets on hedge funds and an inner spying scandal.
“I remorse that various my private actions have led to difficulties for the financial institution and compromised my potential to characterize the financial institution internally and externally,” Horta-Osorio, 57, stated in a press release from the financial institution, with out elaborating.
“I subsequently imagine that my resignation is within the curiosity of the financial institution and its stakeholders at this significant time.”
Axel Lehmann, a Swiss nationwide and former government at rival financial institution UBS who joined the Credit score Suisse board in October, will take over as chairman.
Credit score Suisse stated Lehmann “succeeds Antonio Horta-Osório, who resigned following an investigation commissioned by the board.” It didn’t elaborate, and financial institution spokesman Dominik von Arx declined to remark past the information launch.
Swiss media reported Monday that Horta-Osorio, a former CEO of Lloyds Banking Group in Britain, had violated quarantine guidelines, together with touring to Britain in December and to the Wimbledon tennis match over the summer time.
On-line information service finews.com, citing two sources accustomed to the state of affairs, reported in late December that Horta-Osorio was being investigated for allegedly breaking quarantine.
