Credit Suisse Chairman Antonio Horta-Osorio resigns

Credit Suisse Group AG said on Monday its chairman, Antonio Horta-Osorio, has resigned following an investigation commissioned by the board. Switzerland's second-largest bank has appointed Axel Lehmann as its new chairman effective immediately, it said in a statement. "I therefore believe that my resignation is in the interest of the bank and its stakeholders at this crucial time."

Credit Suisse Group AG said on Monday its chairman, Antonio Horta-Osorio, has resigned following an investigation commissioned by the board.

Switzerland's second-largest bank has appointed Axel Lehmann as its new chairman effective immediately, it said in a statement. In December, a preliminary investigation by Credit Suisse found that Horta-Osorio attended the Wimbledon tennis finals in July during a visit to Britain when the country's COVID-19 rules required him to be in quarantine.

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