By Andrea Hargraves 
Antonio Horta Osorio took over the non-executive presidency of Credit Suisse in May 2021 and resigned eight months later. The bank issued a statement on Monday thanking Horta-Osório for his work and immediately announces his successor: Axel P. Lehmann. The Swiss bank’s short stint is another chapter, now brief, of a long banking career for a Portuguese manager who has never left the spotlight.
This time there was nothing Burnt (exhaustion), but the Swiss bank opened an investigation and concluded that Horta-Osório had violated deconstruction. It is not known if the fine imposed by the Swiss authorities on the banker is being prepared.
Discomfort within the bank, after it became known that Horta-Osório had twice violated Swiss quarantine rules over the Covid-19 epidemic, most recently in December, when he traveled to Portugal for a few days after entering Switzerland, without meeting the 10-day quarantine minimum. He also missed a period of isolation in July, when he traveled to London to watch the Wimbledon tennis tournament, according to Reuters.
Despite spending less than nine months in the bank President (Non-Executive Chairman), Horta-Osório has changed the executive team, and designed a strategy for the future, which, according to the group’s statement, will be implemented. He presented a global report on the risk analysis of the group.
A source says the Swiss don’t forgive passAnd even after he resigns from his position, he may have to pay a fine. If Horta-Osório does not resign, and if management wants to remove him, then a general meeting of Credit Suisse would have to be held, where it was the shareholders who elected him and the shareholders who fired him.
Ten years at Lloyd’s with goals achieved
With evidence presented overseas, Portuguese banker Santander Tota left to run the operation that Santander had bought in the UK in 2006, Abe National. Until now, he was the CEO of Santander in Portugal. It was Nono Amado who succeeded him, but Horta Osorio remained the same President Santander in Portugal.
He held the presidency of Santander UK until 2010, but contrary to what many believed, he did not wait for a higher place in the structure of the parent company of Santander. At this point, it was Anna Putin who took over the leadership of the bank in the UK. Desiring Lloyd’s Bank, Horta-Osório leaves the Santander Group for a new challenge: cleaning up Lloyd’s Bank, with the intervention of the British state. He was 46 years old and according to Lloyd’s himself, at the time, he was given a cut in his salary compared to what he received in Santander UK. It will be compensated later.
The separation from the Santander Group, where he worked for 17 years, was to lead the largest British retail bank and one of the “Top 10” banks worldwide. He assumed the executive leadership in March 2011 and the challenges were many. The British state acquired 41% of the bank to avoid its collapse in the midst of the financial crisis and the Portuguese banker was tasked with bringing the bank back to the market and refunding the money to British taxpayers. Horta-Osório managed to do just that. And in June 2021, he left Lloyd’s Banking Group 10 years after joining, in fulfillment of what was required of him. In 2017, the enterprise has already returned to the private sphere. It has incurred losses since the start of the 2008 crisis, and returned to profit in 2015.
It was the bank itself that revealed in a statement that, six years after the Portuguese banker took over the bank’s executive leadership, “Lloyd’s has fully returned 21 billion pounds from taxpayers to the state, plus an additional 900 million pounds,” when- Osorio announced, in July 2020, that he will leave the bank in 2021.
The Portuguese director, born in 1964, had several episodes that marked his time in London. At the end of 2011, he had a breakdown and excessive fatigue that forced him to take a break from the daily tasks he was doing. At the time, he told the press, “It was like a battery was about to run out.”
Chairman of Credit Suisse Bank and honoring Queen Elizabeth II
In 2021, after leaving Lloyd’s, the challenge came from Switzerland. Not to be an executive but President At Credit Suisse, a position that allowed him to decide which strategy to pursue despite not being as pressured as executive leadership.
The Portuguese banker was the target of public recognition of His Majesty’s lands. He was honored by Queen Elizabeth II in June 2021, and was awarded the title of Nobility Bachelor of Knights, among other titles for which he was nominated.
Also in 2021, he took over the non-executive presidency of the Portuguese pharmaceutical company Bial, at the invitation of Luís Portela. Among other positions, since 2011 he has been a Non-Executive Director at the Champalimaud Foundation.
Credit Suisse’s non-executive leadership began in May 2021 and ended in early January 2022, mainly because Horta-Osório violated Switzerland’s confinement rules twice during the pandemic.
His curriculum now includes not only training in management from Católica (1987), INSEAD (1991) and Harvard Business School (2003) but also a mix of different professional experiences, always in the financial field, from the two-year period of Goldman. Sachs (early 1990s), to his long career at Santander (from 1993 to 2010), during his successful decade at Lloyds (2011 to 2021) and now his shortest job in Zurich.