The previous boss of Lloyds Banking Group has stepped down as chairman of Credit score Suisse after lower than 12 months following an investigation into his private actions.
Antonio Horta-Osorio who steered lending big Lloyds again into personal possession after its 2008 monetary disaster bailout, stated in an announcement issued by Credit score Suisse his actions had led to “difficulties” for the Swiss financial institution.
“I remorse that quite a lot of my private actions have led to difficulties for the financial institution and compromised my means to signify the financial institution internally and externally,” the Portuguese banker stated.
“I due to this fact imagine that my resignation is within the curiosity of the financial institution and its stakeholders at this significant time,” he added.
He was changed as chairman by board member Axel Lehmann, the assertion stated.
Mr Horta-Osorio acquired a knighthood within the Queen’s Birthday Honours checklist in 2021 for his companies to the monetary sector, in addition to his voluntary work for psychological healthcare and tradition.
He had headed up Santander’s UK arm earlier than taking on at Lloyds in early 2011 the financial institution was on its knees after its £20.3 billion taxpayer bail out on the peak of the monetary disaster following an ill-fated rescue of rival HBOS.
The Lisbon-born 57-year-old, who has British citizenship, bowed out from Lloyds in April with a £2.1 billion first-quarter income haul.
Kaynak: briturkish.com
