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Credit Suisse CEO Antonio Horta Osorio has resigned.  Violate quarantine laws

Credit Suisse CEO Antonio Horta Osorio has resigned. Violate quarantine laws

The bank said in a statement that the head of Credit Suisse, one of the largest Swiss banks, Antonio Horta Osorio, has resigned. Perhaps the reason for the decision was that he was found to have violated quarantine regulations.

The Portuguese were replaced with immediate effect by the Swiss Axel Lehmann.

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The head of Credit Suisse has resigned

Horta Osorio, who took over as head of the bank last year, rather than subject himself to a 10-day quarantine after traveling from the UK to Zurich on November 28, just three days after his arrival, the banker left the country in a private session. Jet.

The case was published by the daily “Blake”, according to which the banker also violated the British epidemic regulations last summer, when he participated in the Wimbledon final in early July. The issue caught on loudly during the Christmas season.

In a statement about personnel changes at the bank’s management, Horta Osorio said he regretted that “some of his personal actions led to difficulties at the bank and affected its ability to represent it both internally and externally”. He stressed that due to recent events, he came to the conclusion that his resignation would be in the interest of the bank.

Antonio Horta OsorioPAP / EPA / ANDY RAIN

Horta-Osorio joined Credit Suisse in April of last year after a series of scandals at the bank. In February 2020, Credit Suisse CEO Tijani Thiam resigned after it was exposed that the bank was spying on older workers. Thiam denied any knowledge of espionage operations.

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Credit Suisse also incurred heavy losses from the collapse of Grencelle and Archaegos Financial, a US hedge fund that collapsed last year. Credit Suisse reported a 21% drop in earnings for the third quarter of last year and expects a loss for the last three months of 2021. Credit Suisse shares are down 23%. over the past year.

Main image source: PAP / EPA / ANDY RAIN