🔴Espionage, Lies & Resignation: Credit Suisse Scandals see Chairman Quit
Antonio Horta-Osorio has resigned over reportedly breaking UK C-19 quarantine rules twice last yr, after the former Lloyds Bank boss was in charge for just 8 months.
Credit Suisse's corporate cultural had already been in crisis for its involvement in scandals which Horta-Osorio described as the worst he'd ever seen. Here are some of the crises the Swiss bank has faced:
Tuna Bond: Guilty for defrauding $850MN loan to Mozambique meant for tuna fishing fleet - around $200MN went to Credit Suisse bankers & govt officials.
Archegos: Lost $5.5BN when capital management firm defaulted. Credit Suisse slammed for 'quick profit' with tech stocks.
Greensill: Froze $10BN supply chain funds when Greensill Capital collapsed. Credit Suisse sold billions of its debt to investors.
Spying: Frmr chief exec quit in 2020 after hiring private detectives to spy on its wealth management head when he left to rivals UBS.
Antonio Horta-Osorio has resigned over reportedly breaking UK C-19 quarantine rules twice last yr, after the former Lloyds Bank boss was in charge for just 8 months.
Credit Suisse's corporate cultural had already been in crisis for its involvement in scandals which Horta-Osorio described as the worst he'd ever seen. Here are some of the crises the Swiss bank has faced:
Tuna Bond: Guilty for defrauding $850MN loan to Mozambique meant for tuna fishing fleet - around $200MN went to Credit Suisse bankers & govt officials.
Archegos: Lost $5.5BN when capital management firm defaulted. Credit Suisse slammed for 'quick profit' with tech stocks.
Greensill: Froze $10BN supply chain funds when Greensill Capital collapsed. Credit Suisse sold billions of its debt to investors.
Spying: Frmr chief exec quit in 2020 after hiring private detectives to spy on its wealth management head when he left to rivals UBS.
06:41 PM - Jan 17, 2022
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