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Credit Suisse boss admits breaking covid quarantine

Swiss regulator says it is in contact with the bank


Kirsten Hastings

As we enter what will likely be our second consecutive festive season in lockdown, the chairman of Credit Suisse has admitted to breaching a 10-day quarantine period in Switzerland.

According to Reuters, the banking giant said it “regretfully acknowledged” that Antonio Horta-Osorio arrived in the country on 28 November but left just three days later.   

In a statement, Horta-Osorio said: “I aim to abide by Swiss quarantine rules and strictly followed the protocol from the moment I entered the country.”

He admitted to “unintentionally” violating the rules by leaving on 1 December. “I sincerely regret this mistake. I apologise and will ensure that this does not happen again.”

It’s an inauspicious start for the man who only stepped into the role in 2021, having previously been chief executive of Lloyds Banking Group.

Horta-Osorio is understood to have travelled to Switzerland from the UK.

Unhappy watchdog

In a separate Reuters article, Switzerland’s financial regulator, Finma, confirmed that it has reached out to Credit Suisse.

“We are in contact with the bank regarding the matter,” a spokesperson said, declining to comment further.