Credit Suisse chairman resigns in wake of internal probe

Credit Suisse says its chairman, Antonio Horta-Osorio, has resigned following an internal probe that reportedly turned up that he had violated quarantine rules intended to fight the COVID-19 pandemic

GENEVA -- Credit Suisse says its chairman, Antonio Horta-Osorio, has resigned following an internal probe that reportedly turned up that he had violated quarantine rules intended to fight the COVID-19 pandemic.

The resignation of Horta-Osorio, a British-Portuguese national who took up the job barely eight months ago, was announced shortly after midnight on Monday. It amounts to the latest upheaval at the top-drawer Swiss bank that has faced an array of recent troubles including bad bets on hedge funds and an internal spying scandal.

“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,” said Horta-Osorio, 57, in a statement from the bank, without elaborating.

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