Business News

Credit Suisse found that Horta-Osório had repeatedly violated her privacy

An internal audit of Credit Suisse has found that António Horta-Osório violated antitrust law for people with coronary heart disease a second time, which raises questions about the choice of seat as they try to lead to a change in the behavior of the abusive lender.

The investigation found that Horta-Osório had failed to comply with Covid’s rules when he boarded a flight to London and watched a Wimbledon tennis match on July 10 and 11, according to people familiar with the matter. At the time, Switzerland was on the UK amber list and travelers had to isolate themselves for 10 days upon arrival.

The findings of the study, announced by Reuters, were presented to the commission’s research committee two weeks ago, which will now see if it will take action. Romeo Cerutti, the bank’s attorney general, oversees the investigation.

Credit Suisse declined to comment.

The incident at Wimbledon comes on the heels of a lawsuit filed earlier in Switzerland earlier this year when Horta-Osório flew out of the country within three days.

The chair left London for Zurich on November 28, just 10 days after settling in Switzerland after discovering the Omicron species of coronavirus.

Horta-Osório he apologized due to “error” and he indicated the breach as “intentional”. However, the Swiss newspaper Blick reports that he had initially requested not to be allowed into canton by the federal government, but was told he was not receiving any special treatment and would have to isolate himself for 10 full days.

Despite this, Horta-Osório flew out of the country on December 1.

Horta-Osório could pay a fine until SFr5,000 reported what he did to protesters in the St Gallen Canton.

Since the start of Credit Suisse in April, Horta-Osório’s main focus has been on addressing social ills and risks, which have led to two bills that have cost the lender and its billions of dollars in losses.

The collapse of Greensill Capital’s early financial company in March blocked $ 10bn in customer finance and $ 2.9bn was not recovered. A few weeks later, the bank lost $ 5.5bn – the largest in its 165-year history – following the removal of Archegos Capital’s family office.

Horta-Osório, a former CEO of Lloyds Banking Group, has stated that under the leadership of Credit Suisse “it is committed to developing a culture of accountability and accountability”.

A senior bank shareholder said he did not see what Horta-Osório had done to justify resignation, but was disappointed that the chairman had brought out so many bad heads in the bank.

Credit Suisse revenues have dropped by 25 percent this year, compared to the 30 percent gain of its major UBS competition.

Source link

Related Articles

Leave a Reply

Back to top button