Swiss wealth management giant Credit Suisse will reportedly reprimand chairman Antonio Horta-Osorio for breaching covid rules for the second time.
The firm’s legal team found that he did not follow Britain’s quarantine rules in July 2021 to attend Wimbledon’s tennis finals in London, two sources told newswire Reuters last month.
This is the second time Horta-Osorio breached covid rules, after he admitted breaking Switzerland’s 10-day quarantine period in November 2021, when he left the country three days after arriving.
But according to Swiss-German newspaper Tages-Anzeiger, the chairman will not be removed from his position after the second incident, he will just be ‘rebuked’ in the coming weeks.
Horta-Osorio is now facing pressure in Switzerland over the two incidents, with members of staff in London and New York being upset about his conduct, the paper added.
International Adviser contacted Credit Suisse but the firm declined to comment.