Credit Suisse says its revamp intact despite chairman's exit over COVID-19 breaches
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Summary
SINGAPORE/ZURICH, Jan 17 (Reuters) - Credit Suisse will stick to its strategic overhaul despite the abrupt departure of its mastermind Antonio Horta-Osorio following an internal probe into his personal conduct, including breaches of COVID-19 rules, the embattled bank's new chairman said on Monday.Horta-Osorio leaves less than a year after he was hired to help the bank deal with the implosion of collapsed investment firm Archegos and the insolvency of British supply chain finance company Greensill Capital, even as it was still reeling from the 2020 exit of CEO Tidjane Thiam over a spying scandal.Combined these triggered multi-billion dollar losses and sackings at Switzerland's No. 2 bank, and Horta-Osorio unveiled a new strategy in November to focus on wealth management, rein in its investment bankers and curb a freewheeling culture.
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