The chairman of Credit Suisse has been sacked after just nine months of work for breaching Covid-19 quarantine rules.
Antonio Horta-Osorio joined Credit Suisse after an internal spying scandal caused turbulence in the Swiss bank.
He attended Wimbledon when he should have been in quarantine.
On Monday Credit Suisse issued a statement where Horta -Osório said that his “personal actions” had made it more difficult for him to represent the bank. He had also admitted breaking Swiss quarantine rules.
Credit Suisse published a statement on Monday Mr. Horta-Osorio said “I regret that a number of my actions have led to difficulties for the bank and compromised my ability to represent the bank internally and externally.”
“I, therefore, believe that my resignation is in the interest of the bank and its stakeholders at this crucial time.”
Horta-Osorio has been replaced by board member Axel Lehmann.
Last month, a preliminary investigation by Credit Suisse had found that Horta-Osorio had breached Covid-19 rules.
He attended the Wimbledon tennis finals in July at a time when the UK’s Covid-19 restrictions required him to be in quarantine.
Horta-Osorio also breached Swiss Covid-19 restrictions when he flew into the country on 28 November but left on 1 December. Swiss rules meant he should have been quarantined for 10 days upon his arrival.
End-of-Mission press releases present IMF staff’s preliminary findings following a visit to a country. The…
New fäm Properties analysis of more than 1.1 million Dubai Land Department transactions shows clear…
Washington, DC – May 7, 2026: At the request of the Government of Nepal, an IMF…
The UAE’s capital markets are no longer a subplot, but rather the protagonist of the…
Abu Dhabi Fund for Development (ADFD) and Orbitworks are collaborating for the advancement of digital…
End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a…