Credit Suisse chairman resigns after company probe

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Antonio Horta-Osorio, the chairman of Credit Suisse, has resigned with immediate effect.

He was found to have broken the UK's Covid-19 rules.

The former boss of the banking group joined the Swiss bank after a series of scandals.

Mr. Horta-Osorio was replaced by a board member.

A number of my personal actions have led to difficulties for the bank and compromised my ability to represent the bank internally and outside, according to a statement issued by the bank.

He said that his resignation was in the interest of the bank and its stakeholders.

According to a report by the news agency, a preliminary investigation by Credit Suisse found that Mr. Horta-Osorio had violated Covid-19 rules.

He attended the Wimbledon tennis finals at a time when the UK's Covid-19 rules required him to be in a hospital.

The bank will not give any further details on Mr. Horta-Osorio's resignation other than the statement it made.

There were no plans to release the findings of the investigation.

Mr. Horta-Osorio was the chief executive of the British lender.

He was brought in to clean up the corporate culture of the second-largest bank in Switzerland, which was marred by its involvement with collapsed investment company Archegos and insolvency supply chain finance firm Greensill Capital.

In February 2020, Credit Suisse's chief executive, Tidjane Thiam, resigned after it was revealed that the bank had spied on senior employees.

The caption is media.

The Australia bank inquiry said they didn't care who they hurt.

Banking.
Credit Suisse.
A coronaviruses epidemic.