The chairman of the board and chief supervisor of Credit Suisse, Antonio Horta-Osório, has to vacate his post. Born in Portugal, he had only been in this position since April 2021, but the Board of Directors was soon dissatisfied with his performance.
The decisive point for his departure was multiple violations of quarantine regulations in Switzerland and Great Britain. The banker entered Switzerland in December 2021 and did not go into the prescribed ten-day quarantine. Just a few days later he flew to Great Britain, which he also left after three days with a private chat – although a mandatory quarantine would have been mandatory there too.
In a bank press release, Horta-Osorio stated: “I regret that some of my personal actions have caused difficulties for the bank and have affected my ability to represent it internally and externally. I have therefore come to the conclusion that my resignation at this time is in the interest of the bank and its stakeholders. I wish my colleagues at Credit Suisse all the best for the future.” His successor will be the Swiss Axel Lehmann, former board member of the major Zurich bank UBS.