Credit Suisse Group chairman Antonio Horta-Osorio quits

Antonio Horta-Osorio

Antonio Horta-Osorio

Credit Suisse Group AG said on Monday its chairman, Antonio Horta-Osorio, has resigned following an investigation commissioned by the board.

Switzerland’s second-largest bank has appointed Axel Lehmann as its new chairman effective immediately, it said in a statement.

In December, a preliminary investigation by Credit Suisse found that Horta-Osorio attended the Wimbledon tennis finals in July during a visit to Britain.

It was when the country’s COVID-19 rules required him to be in quarantine.

“I regret that a number of my personal actions have led to difficulties for the bank and compromised my ability to represent the bank internally and externally,” Horta-Osorio said.

“I therefore believe that my resignation is in the interest of the bank and its stakeholders at this crucial time.”

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