FN London

Financial News

News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Investment Banking

Horta-Osório’s exit throws Credit Suisse’s grand transformation into disarray

By Paul Clarke
‘We have set the right course with the new strategy and will continue to embed a stronger risk culture across the firm,’ Axel P Lehmann said in a statement announcing his appointment
‘We have set the right course with the new strategy and will continue to embed a stronger risk culture across the firm,’ Axel P Lehmann said in a statement announcing his appointment Photo: Chris Ratcliffe/Getty Images

Credit Suisse has been dealt a fresh blow, as the high-profile banker drafted in to steady the ship and turn the bank around after a series of scandals resigned after just eight months following breaches of Covid-19 quarantine rules.

The Swiss bank has moved swiftly to replace former Lloyds Banking Group chief executive Sir António Horta-Osório with Axel P Lehmann, a former UBS executive who joined Credit Suisse in October, in a surprise midnight announcement on 17 January.

WSJ Logo
GQG Launches Buyback After Stock Tumbles on Adani Probe

GQG Launches Buyback After Stock Tumbles on Adani Probe

Trump Considers Warsh Serving as Treasury Secretary—and Then Fed Chair

Large Accounting Firms Will Have to Submit Financial Statements to U.S. Regulator

Nvidia Is on Top but Does It Have Anywhere to Go but Down?

U.K. Consumers Cheerier Ahead of Holidays as Budget, U.S. Election Jitters Fade