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Head of Credit Suisse resigns over Covid rules breach

ZURICH (AFP) – The head of Credit Suisse has resigned less than a year after taking the reins of the scandal-hit bank following reports that he had broken Covid quarantine rules.

Antonio Horta-Osorio’s resignation was effective immediately following an investigation commissioned by the board, Switzerland’s second-largest bank said in a statement released yesterday.

Board of directors member Axel Lehmann was appointed to take his place.

“I regret that a number of my personal actions have led to difficulties for the bank and compromised my ability to represent the bank internally and externally,” Horta-Osorio said in the statement.

“I therefore believe that my resignation is in the interest of the bank and its stakeholders at this crucial time.”

Antonio Horta-Osorio. PHOTO: AFP
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