Credit Suisse investigates alleged breaches of Covid rules by chairman

Chairman Antonio Horta-Osorio in hot water for allegedly violating Swiss quarantine rules

Credit Suisse has launched an investigation into chairman Antonio Horta-Osorio over his recent breach of Swiss quarantine rules, Finews reported, citing two people with knowledge of the matter. Romeo Cerutti, the bank's top lawyer, is overseeing the probe, according to Finews, which added that it was unclear who initiated the proceedings. Board discussions on the matter mean Mr Horta-Osorio could have been part of the decision, the Swiss news site reported. A Credit Suisse spokesman declined to comment. Mr Horta-Osorio apologised earlier this month for leaving Switzerland "prematurely" on December 1st, when he "unintentionally violated" Swiss quarantine rules. Swiss newspaper Blick reported at the time that the Credit Suisse chairman returned to Switzerland from the UK on November 28th, requiring a 10-day period of quarantine. He received feedback from the local canton and the federal government that there would be no special exemptions and that he should remain in isolation for the full period.

Blick reported that even after the order, Horta-Osorio left for the Iberian peninsula on December 1st aboard a private jet. On a separate occasion, he disembarked from a Credit Suisse business jet to meet his wife at a Southeast Asian resort, Finews also reported Wednesday, without linking that trip to the bank’s probe. - Bloomberg