First Boris, Now Boardrooms

First Boris, Now Boardrooms

If there is one thing Britons have learned in the last two years, it is that coronavirus spreads fast. Now, a new spectre is on the horizon and spreading with a vengeance: rule breach revelations (and their consequences).

Prime minister Boris Johnson is currently up to his neck in repeated scandals surrounding breaches of Covid-19 social restrictions, but, though the UK's premier is clinging on and deploying all possible means to resurrect his credibility, events outside of Whitehall are moving with more sincerity. 

Rule breaches have now claimed their first serious financial face in the form of former Lloyds Banking Group chief executive-turned Credit Suisse chairman António Horta-Osório.

"I regret that a number of my personal actions have led to difficulties for the bank and compromised my ability to represent the bank internally and externally," Horta-Osorio said in a statement issued by the bank.

"I therefore believe that my resignation is in the interest of the bank and its stakeholders at this crucial time."

Reuters had originally reported that an internal probe was ongoing at the embattled Swiss bank, amid allegations Horta-Osório had attended the Wimbledon finals at point where the UK's rules required him to remain quarantined.

The resignation strikes a blow to Credit Suisse's own comeback