Who is banking boss Antonio Horta-Osorio?

17 January 2022, 12:54

Sir Antonio Horta-Osorio
Antonio Horta-Osorio. Picture: PA

The former Lloyds boss has made headlines by resigning from his role at Credit Suisse after allegedly breaking coronavirus rules.

Sir Antonio Horta-Osorio, the former boss of Lloyds Banking Group, has made headlines after allegedly breaking coronavirus restrictions and subsequently resigning as chairman of Swiss bank Credit Suisse.

Sir Antonio, 57, was born in Lisbon but has British citizenship and has been the chairman of Credit Suisse only since April 2021.

His tenure at the Swiss bank ended after only nine months following news that he broke isolation rules, including by attending the Wimbledon tennis finals.

Previously, he had headed Santander’s UK arm before taking on the role as boss of the Lloyds Banking Group in 2011.

The Portuguese banker left Lloyds after 10 years at the head of the organisation, during which time he helped the Government to unwind the stake it took in Lloyds during the financial crisis, while also returning the group to healthy profit growth.

When he took on the role, the banking group was in a dire position after its £20.3 billion taxpayer bailout at the height of the financial crisis following an ill-fated rescue of rival HBOS.

He was also left to deal with the payment protection insurance (PPI) mis-selling scandal, which ended up costing Lloyds £22 billion.

Sir Antonio was paid £4.73 million in 2019, and £6.54 million a year earlier.

He also received a knighthood in the Queen’s Birthday Honours list in June last year for his services to the financial sector and his voluntary work for mental healthcare and culture.

The announcement of his inclusion came just a few weeks before his alleged breach of Covid rules by attending the Wimbledon tennis tournament.

Antonio Horta-Osorio
Sir Antonio Horta-Osorio ran Lloyds Banking Group before joining Credit Suisse (Hugo Philpott / PA)

The banker became an advocate for mental health support at work after taking a leave of absence due to stress-related exhaustion only six months after beginning his job at Lloyds.

Under his guidance, Lloyds now supports the Mental Health UK charity, while it has also ensured help is available for staff experiencing stress and anxiety.

However, Sir Antonio also faced controversy in August 2016 after The Sun alleged that he had an affair with the former director general of the Russell Group, Dr Wendy Piatt, while on a business trip to Singapore.

Dr Piatt left her role four months after The Sun published the story.

By Press Association