SINGAPORE (Reuters) – Credit Suisse chairman Antonio Horta-Osorio has resigned after breaking quarantine rules linked to the coronavirus outbreak, the bank said on Monday, raising questions about its new strategy, as it is weakened by a series of setbacks and scandals.
Switzerland’s second largest bank has announced that Antonio Horta-Osorio has resigned after an internal investigation requested by the board of directors.
This resignation comes less than a year after Antonio Horta-Osorio was tasked with rethinking the bank’s corporate culture, weakened by the Archegos and Greensill scandals.
“I regret that some of my actions have caused difficulties for the bank and compromised my ability to represent it internally and externally,” Antonio Horta-Osorio said in a statement.
“So I think my resignation is in the interest of the bank and its stakeholders at this very moment,” he added.
Reuters reported in December that Antonio Horta-Osorio attended the final of the Wimbledon tennis tournament in June when he should have been in quarantine.
The Credit Suisse chairman also breached coronavirus pandemic restrictions during a visit to Switzerland in November, when he left the country despite being required to complete 10 days of quarantine, the bank said on Monday. last month.
Credit Suisse has announced that Axel Lehmann, a member of the board of directors, will take over as chairman of the bank with immediate effect.
(Anshuman Daga report, with Shivani Tanna and Maria Ponnezhath; French version Camille Raynaud)
by Anshuman Daga