António Horta-Osório proposed for election as Chairman of Credit Suisse BoD
Credit Suisse Group AG today announces that its Board of Directors of proposes to the shareholders to elect António Horta-Osório as the new Chairman of the Board at the next Annual General Meeting.
António Horta-Osório will succeed Urs Rohner who will step down in 2021 as previously announced upon reaching the statutory term of 12 years.
In order to find a successor to Urs Rohner, the Board of Directors established a dedicated search committee. In an intensive search process with an international focus, this committee reviewed numerous particularly well-qualified personalities and eventually recommended to the Board of Directors to propose to the shareholders to elect António Horta-Osório as the new Chairman of the Board of Directors.
At present, António Horta-Osório is the Group Chief Executive of Lloyds Banking Group. António Horta-Osório started his career in banking in 1987 at Citigroup in Portugal where he became Head of Capital Markets. From 1991 to 1993, he worked in corporate finance at Goldman Sachs in New York and London.
In 1993 he joined Santander, where he was responsible for several executive functions and developed and further expanded the business in various key countries: First as Chief Executive Officer of Banco Santander de Negócios Portugal until 1996, from 1997 to 2000 as Chief Executive Officer and Chairman of Banco Santander Brazil, from 2000 to 2006 as Chief Executive Officer of Banco Santander Totta (Portugal), as Executive Vice President of Banco Santander in Spain from 2000 to 2010, as well as from 2006 to 2010 as Chief Executive Officer of Santander UK / Abbey.
Finally, effective March 2011, Lloyds Banking Group appointed him to his current role. In addition, António Horta-Osório served on the Court of Directors of the Bank of England from 2009 to 2011.
Today, Lloyds said that António Horta-Osório has agreed with the Board that he will step down as Group CEO and as a Director of the Group with effect from 30th April 2021. He will continue to fulfill all his current responsibilities until that date.
António Horta-Osório said:
«I am delighted to be proposed as Chairman of the Board of Directors of Credit Suisse Group. I look forward to working closely with the Board and management team to build on the Group’s many strengths. This is a time of great opportunity for the Group, its people, clients and shareholders.»