Credit Suisse chairman to be rebuked by board over COVID-19 rule breach

© Reuters. FILE PHOTO: Antonio Horta Osorio, CEO of Lloyds Banking Group, arrives at a garden party at Buckingham Palace, London, May 22, 2018. REUTERS/Simon Dawson

ZURICH (Reuters) – Credit Suisse (SIX:) Chairman Antonio Horta-Osorio is likely to be rebuked by the bank’s board after an internal investigation found he breached COVID-19 rules a second time, Tages-Anzeiger newspaper reported on Saturday.

The probe by Credit Suisse’s legal team found the Portuguese banker attended the Wimbledon tennis finals in London last July without following Britain’s quarantine rules, two sources told Reuters last month. This followed a breach of Swiss COVID-19 rules in November.

Horta-Osorio will not be removed, but will likely be rebuked in the coming weeks, Tages-Anzeiger said, citing informed sources.

Credit Suisse declined to comment on the newspaper story when contacted by Reuters.

Horta-Osorio faces growing pressure within Switzerland over the incidents, while staff in London and New York are also upset about his conduct, the paper added.

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