Credit Suisse ousts chairman after reported quarantine breaches

seekingalpha2022-01-17

yuelan/iStock Editorial via Getty Images Nine months after he became chairman of Credit Suisse (NYSE:CS) Antonio Horta-Osório resigns from the role and apologized for his actions that "compromised ...

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Axel P. Lehman succeeds Horta-Osório as chairman of the Swiss bank. Lehman has been a member of Credit Suisse's (CS) board since Oct. 1, 2021 and was named chair of the risk committee at the same time. He was formerly a member of UBS Group's (NYSE:UBS) Group Executive Board, initially as Group chief operating officer, then as president of Personal & Corporate Banking and president of UBS Switzerland. During Horta-Osório's took over as chairman to lead the company's strategic realignment after it incurred billions of dollars of losses in 2021 from the twin collapses of Archegos Capital and Greensill Capital. Credit Suisse (CS) shares drop 2.0% in trading in Switzerland. 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