António Horta-Osório deviated from the isolation rules linked to the pandemic twice, during the summer of 2021 and, more recently, in full emergence of the Omicron variant. This Monday, January 17, the banking group announced its replacement.

“Carried away by a controversy surrounding two quarantines that he carefully avoided, António Horta-Osório leaves the presidency of Credit Suisse with immediate effect”, reports The weather. The Swiss banking group announced its departure on Monday January 17.

“In full emergence of the Omicron variant, António Horta-Osório, back from the UK, had cut short his quarantine to go to Spain.” The president of the international banking group had also derogated from the health rules in force in Switzerland during the summer of 2021, “upon his arrival in England for the Wimbledon final”.

In a statement issued overnight from Sunday to Monday, the resigning president said:

I regret that a number of my personal actions caused difficulties for the bank and compromised my ability to represent the bank internally and externally.”

The banking institution was “embarrassed”, explains the Swiss daily, the “lack of integrity from his number one” starting to react “some collaborators in Switzerland, but also in England and the United States”. He was also accused of the repeated use of a private jet “while the bonuses distributed were less substantial in 2021”.

A damaged image

António Horta-Osório, with a “solid reputation” for having recovered the British bank Lloyds, had been appointed last June “in a fragile context” for Credit Suisse, the second largest banking institution in Switzerland, “scalded by his successive somersaults with the hedge fund Archegos and the factoring company Greensill”.

The Swiss Axel Lehmann, a former banker UBS became a director of Credit Suisse in October, is “entered into office on Monday” as the new president.

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Born in March 1998 from the merger of New Daily, from Geneva Journal and some Lausanne Gazette, this centre-right title, popular with executives, presents itself as the reference daily in French-speaking Switzerland and

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