Credit Suisse's António Horta-Osório will reportedly face criticism from the bank’s board after a probe found two breaches of COVID rules by the chairman last year.
Credit Suisse chairman António Horta-Osório is likely to be rebuked by the bank’s board in the coming weeks, «Tages-Anzeiger» (behind paywall, in German) reported, citing unnamed sources.
During his 11 months as chair of the bank, Horta-Osório breached Covid rules on two occassions – once during a visit to the Wimbledon tennis finals in London last July and once in Switzerland in November.
While he will face the board’s expressed disapproval, Horta-Osório will not be removed, the report added.
Growing Pressures
The chairman faces growing pressures in Switzerland alongside unhappy staff in London and New York over the two incidents, the outet wrote.
These circumstances are likely to strengthen CEO Thomas Gottstein's power base, the newspaper reports.
