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https://www.bitchute.com/channel/R55w1IXstR3h/
Antonio Horta-Osorio has resigned over reportedly breaking UK Covid-19 quarantine rules twice last year, after the former Lloyds Bank boss was in charge for just eight months.
This is only the official version of the power match.
Credit Suisse’s corporate culture had already been in crisis for its involvement in scandals which Horta-Osorio described as the worst he’d ever seen. Here are some of the crises the Swiss bank has faced:
▪️Tuna Bond: Guilty for defrauding $850MN loan to Mozambique meant for tuna fishing fleet – around $200MN went to Credit Suisse bankers & govt officials.
▪️Archegos: Lost $5.5BN when capital management firm defaulted. Credit Suisse slammed for ‘quick profit’ with tech stocks.
▪️Greensill: Froze $10BN supply chain funds when Greensill Capital collapsed. Credit Suisse sold billions of its debt to investors.
▪️Spying: Former chief exec quit in 2020 after hiring private detectives to spy on its wealth management head when he left to rivals UBS.
„Credit Suisse Group AG chairman António Horta-Osório is leaving the global bank following a board investigation into his travel and personal conduct, according to people familiar with the bank.
Credit Suisse said late Sunday that Mr. Horta-Osório had resigned following an investigation commissioned by the board. The people said the investigation examined his conduct, including travel that breached Covid-related government rules and his personal use of corporate aircraft. He joined the Credit Suisse board less than a year ago.
Credit Suisse said board member Axel Lehmann was appointed to take over the chairman role, effective immediately. Mr. Lehmann, a former executive at UBS Group AG, joined the Credit Suisse board in late 2021 and is chair of its risk committee.“
More to come soon…
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