Credit Suisse Chairman Seeks Cultural Revamp
António Horta-Osório reiterated his commitment to revamping Credit Suisse in an issued statement with a focus on a key component at the bank: culture.
Ex-Lloyds chief executive António Horta-Osório was elected by shareholders with a 96.45 percent approval rate to succeed Urs Rohner who has held the role at Credit Suisse for the last decade.
Horta-Osório joins the role at a challenging juncture after the bank faced a series of setbacks including the collapse of family office Archegos, Greensill supply chain funds and the numerous executive exits including, most recently, risk committee chair Andreas Gottschling.
Key Factor: Culture
In an issued statement, Horta-Osório highlighted culture as a key factor to focus on in order to help the bank make a turnaround.
«We need to foster a culture that reinforces the importance of risk management, ensures that we have the right incentives in place, including on remuneration, and focuses on personal responsibility and accountability,» he said.
«A culture where every single employee can be proud of what we stand for and how we act.»
