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Credit Suisse has admitted that António Horta-Osório, its chairman, has violated Swiss secessionist rules to fly in and out of the country within three days.
Portuguese-British banker, who promised to a a good sweep of culture to embarrassing bank, apologized for traveling 10 days in isolation.
Horta-Osório departed from London to Zurich on November 28, four days later rules for isolation was introduced in Switzerland following the detection of Omicron type coronavirus.
On December 1, a former Lloyds Bank CEO left the country, first reported by Swiss Blick newspaper.
“I willfully violated Swiss immigration laws by leaving the country on December 1,” Horta-Osório said in a statement.
“I sincerely regret this mistake. I apologize and make sure this does not happen again. ”
While in Switzerland, Horta-Osório said that he lived at home and conducted almost all the meetings, including public speaking.
The bank added: “Finance Suisse sadly acknowledges that there have been violations of privacy laws linked to the conduct of its chairman. Adherence to the rules and regulations applied is essential for Credit Suisse and for the individual chairman.
Horta-Osório is currently in New York for a Suisse board meeting on Thursday, with leaders expected to finalize a number of senior elections. senior positions in the bank, including the leader of his new global financial management business, according to people who were briefly informed of the plans.
Switzerland revoked its privacy policy on December 4 and has made travel easier from the UK.
Since the start of Credit Suisse in April, Horta-Osório has begun trying to address the cultural problems and threats it has criticized as a result of the twin problems that came to the bank the day before.
The group has been trying for almost a year to repair the damage caused by the collapse of the financial sector Greensill Capital earlier in March, which blocked a $ 10bn cash flow of Swiss bank customers. A few weeks later, the bank lost $ 5.5bn – the largest in its 165-year history – following the removal of the family office. Archegos Capital.
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