Credit Suisse chairman should receive warning

The discovery had created a stir in December. The president of Credit Suisse, the one supposed to put the bank in order after an unprecedented series of scandals, was causing one himself. It appeared that he had not respected a quarantine when he returned from Britain last November, when the Omicron variant began to worry the whole world. Antonio Horta-Osorio had first tried in several ways to be exempted, then had left Switzerland for Spain, revealed the view.

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Read also: Credit Suisse chairman breaks quarantine

He then apologized for breaking the rules “unintentionally”. However, this was not a first, then affirmed Reuters at the end of last month. The news agency cited an internal investigation launched following the discovery of the first pot aux roses which pinpointed another curvy quarantine. Last July, when the former boss of Lloyds bank went to Wimbledon, London, he had not isolated himself as he should have under the rules in force.

A soap

From now on, the board of directors can no longer avoid taking a position, understands the Daily indicator, which cited “informed” sources in its Saturday edition. The British-Portuguese banker, who took office at the end of last April, should not fear an ejection, but he should pass a soap, in the words of the Zurich daily. Contacted, the bank did not comment.

Also read: Antonio Horta-Osorio, the bent 40s and the difficult recovery of Credit Suisse

Credit Suisse is expected to publicly reproach its chairman in the coming weeks over actions that appear to have caused some unease among the bank’s employees. Much like the controversy over the use of Credit Suisse’s private jet by its chairman, when he himself announced greater austerity for employees, especially in the distribution of bonuses.

It remains to be seen who will benefit from this case, especially in the power struggle between CEO Thomas Gottstein and President Antonio Horta-Osorio. For some, it is the former that gives more weight to the controversy. For others, the fact that the board ultimately only gives a warning to its chairperson could also strengthen it.

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