Credit Suisse names outgoing Lloyds CEO as new chairman

Credit Suisse has named outgoing Lloyds Banking Group chief executive António Horta-Osório as its new chairman.

Horta-Osório will be proposed as chairman at the next annual general meeting at the end of April 2021. He will succeed Urs Rohner, who is due to step down next year, as previously announced.

News of the appointment comes a day after Lloyds announced it was hiring Charlie Nunn, HSBC's head of retail banking, as its new chief executive.

Credit Suisse chairman Rohner said: "I am extremely happy that we can propose a highly proven and recognised 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."