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Credit Suisse chairman to be rebuked by board over COVID-19 rule breach

by Mike Robinson

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© Reuters. FILE PHOTO. Antonio Horta Osorio (CEO of Lloyds Banking Group) arrives at the Buckingham Palace garden party, London on May 22, 2018. REUTERS/Simon Dawson

ZURICH (Reuters). Credit Suisse (SIX): Chairman Antonio Horta-Osorio will likely be disqualified by the bank’s board following an internal investigation that found him to have violated COVID-19 rules for a second consecutive time. Tages-Anzeiger reported Saturday.

Two sources revealed to Reuters that the investigation by Credit Suisse’s legal department found that the Portuguese banker had attended Wimbledon’s tennis finals last July in London, despite not following Britain’s quarantine rules. The breach of Swiss COVID-19 rules was reported in November.

According to Tages-Anzeiger, Horta-Osorio won’t be removed but it will be likely that he is rebuked over the next few weeks.

Credit Suisse refused to comment when Reuters contacted them about the story.

Horta Osorio is under growing pressure from Switzerland because of the scandals, but staff members in London and New York also have concerns about his behavior, the paper said.

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