INSUBCONTINENT EXCLUSIVE:
Board of directors member Axel Lehmann was appointed to take his place.Zurich, Switzerland: The head of Credit Suisse has resigned less than
a year after taking the reigns of the scandal-hit bank following reports that he had broken Covid quarantine rules.Antonio Horta-Osorio's
resignation was effective immediately, with board of directors member Axel Lehmann taking over at the helm, Switzerland's second-largest
bank said in a statement overnight.The head of Credit Suisse has resigned less than a year after taking the reigns 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 overnight.Board of directors member Axel
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."The Portuguese banker came under fire in December
after media reports that he had breached Swiss quarantine rules during a trip.The resignation adds to the woes of the Swiss banking giant,
which was rocked by its links to the multi-billion-dollar meltdowns at financial firms Greensill and Archegos last year.Horta-Osorio, who
built a solid reputation in having turned around British bank Lloyds, had pledged to tackle risk at Credit Suisse.(This story has not been
edited by TheIndianSubcontinent staff and is auto-generated from a syndicated feed.)
