António Horta-Osório proposed for election as Chairman of the Board of Directors at the Annual General Meeting on April 30, 2021
The Board of Directors of Credit Suisse Group AG proposes to the shareholders to elect António Horta-Osório as the new Chairman of the Board of Directors at the next Annual General Meeting on April 30, 2021.
António Horta-Osório shall succeed Urs Rohner who will step down in 2021 as previously announced upon reaching the statutory term of 12 years. At the Annual General Meeting in 2009 Urs Rohner was elected to the Board of Directors and became its full-time Vice-Chairman. He became full-time Chairman of the Board of Directors in 2011.
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.
António Horta-Osório is 56 years of age and a citizen of Portugal. He currently is the Group Chief Executive of Lloyds Banking Group, the largest retail and commercial bank in the UK. 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 Grupo 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.
Urs Rohner, Chairman of the Board of Directors of Credit Suisse Group, said: «I am extremely happy that we can propose a highly proven and recognized professional of the international banking business as my successor. I am convinced that, subject to the election at the next Annual General Meeting, and thanks to his impressive record of accomplishments, António Horta-Osório will make a major contribution to the future success of our bank as a leading wealth manager with strong global investment banking capabilities.»
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.»