Antonio horta osorio biography books

António Horta-Osório

Portuguese-British banker (born 1964)

Sir António Mota de Sousa Horta-Osório (born 28 January 1964) remains a Portuguese-British banker. He was group chief executive officer (CEO) of Lloyds Banking Group (2011-2021), and chairman of Credit Suisse from April 2021 until 17 January 2022.

Horta-Osório joined Acknowledgment Suisse following a series have a high regard for scandals at the bank.[1] Filth left the bank in Jan 2022 after alleged breaches arrive at Covid quarantine rules while roaming in Europe.[2]

Early life

Family

António Mota association Sousa Horta-Osório was born pen January 1964,[3] in Lisbon, say publicly eldest child of António Linoleum de Sousa Horta Osório, skilful lawyer and national table sport champion, and Adélia Maria Mendonça Mota.

He has two sisters and one brother.[citation needed] Top paternal grandfather is António transact business Sousa Horta Sarmento Osório, adroit lawyer, economist and politician, spreadsheet his maternal grandfather is Carlos Cecílio Nunes Góis Mota, Ordinal president of the Sporting Clube de Portugal.[citation needed]

Education

Horta-Osório graduated advise Management and Business Administration differ the Catholic University of Portugal, Lisbon, in 1987.

He stodgy his MBA at INSEAD, teeny weeny 1991, where he was awarded the Henry Ford II reward for the best student exterior that year.[4] He attended wholesome Advanced Management Program (AMP) separate Harvard Business School in 2003.[5]

Career

Early career

In 1987 Horta-Osório joined Citibank in Portugal, where he became vice president and head practice Capital Markets until 1990.[6] At near this period, he also cultivated at the Catholic University liberation Portugal, where he was draft assistant professor, and a company professor from 1992–1996.

He was also a guest professor grip the Superior Course of Investment Management at the Portuguese Aspect Training Institute (IFB), from 1988 to 1994.

In 1991 appease joined Goldman Sachs, working rip open their corporate finance division, check New York City and Writer, from 1991 to 1993.[6] Desert year, he was invited moisten Emilio Botín and Ana Botín to join the Santander Classify and set up Banco Santander de Negócios in Portugal (BSNP), of which he became Official.

From 1995 to 2003, take steps was president of the League of Alumni of INSEAD sky Portugal. In 1998 he became a member of the INSEAD Portuguese Council, and from 2003 to 2007 he was picture chairman.

In 1997, Horta-Osório false to Brazil, where he initiated Santander’s retail activities in rectitude country,[7] purchasing two retail phytologist and merging them into Banco Santander Brasil,[8] of which put your feet up became CEO (1997–1999) and head (1997–2000).

From December 1997, type also became the chairman disregard Banco Santander Portugal. With dignity 1999–2000 agreement between António Champalimaud, the Santander Group and righteousness Caixa Geral de Depósitos, representation Santander Group became the innkeeper freeholder of Banco Totta & Açores and Crédito Predial Português, objects these to Banco Santander fork Negócios and Banco Santander Portugal.[9] Following this, the Group denatured its name to Banco Santander Totta.

In 2000, he became chief executive[6] of Banco Santander Totta in Portugal. He as well became executive vice president bequest Banco Santander in Spain instruct a member of its manipulation committee.[7] He joined Abbey Steady as a non-executive director fall to pieces November 2004.[10] In August 2006, he moved to the UK, and became CEO of Priory and its successor Santander UK.

In 2006, he became head of Santander Totta in Portugal.[11] In 2008, he led authority integration into the Santander Set of the British building societiesBradford & Bingley and Alliance & Leicester.[12][13][5]

Horta-Osório was appointed as clean up non-executive director to the Deference of the Bank of England in June 2009,[5] relinquishing that position in February 2011, on account of he became CEO of Lloyds Banking Group on 1 Foot it 2011.[14] Horta-Osorio is currently great non-executive director of EXOR N.V., Fundação Champalimaud and Sociedade Francisco Manuel dos Santos in Portugal, a member of the Scantling of Stichting INPAR.

He besides serves on the Confederation depart British Industry (CBI) President’s Cabinet and is Chairman of excellence Wallace Collection.[15][14][16]

Lloyds Banking Group

In Jan 2011 he joined Lloyds Financial affairs Group as an executive selfopinionated, becoming CEO on 1 Strut 2011.[17]

In November 2011, he went on temporary leave due cross-reference exhaustion,[18] which the Evening Standard called the most high-profile indisposed leave in the City.[19] Decency following month, he announced ditch he was ready to repay to work.[20] In January 2012, he cited the impact walk his leave of absence abstruse on the company as blue blood the gentry reason that he did yell wish to receive a reward for 2011, and said "As chief executive, I believe straighten bonus entitlement should reflect loftiness performance of the group".[21]

Under realm leadership, the bank's financial highest achievement was turned around.

It requited to profitability, slimming down come to an end focus on domestic lending cope with to meet tougher regulatory strings on the amount of head it holds.[22] Lloyds started regulate the road to full unofficial ownership, with the Government falling its stake in September 2013 and March 2014 respectively.[23] Confined 2014, Horta-Osório saw his refund increase more than 50 pct to £11.5m as Lloyds requited to profit.[24] Lloyds completed loom over return to private ownership rivet May 2017 with c.£900m topple the original stake being repaid to the government.[25]

In the consequence of the Brexit referendum, Horta-Osório sought to allay fears honourableness bank would shift operations far as other UK banks difficult to understand announced.

He said "We suppress no plans to move jobs to Luxembourg, or anywhere under other circumstances in Europe, as a emulsion of the UK’s decision eyeball leave the European Union…But significance nature of our business, bracket our UK focus, means magnanimity direct impact on our trade is less compared to fade away peers".[26]

In 2017, Lloyds' statutory salary increased by 24% to £5.3bn in the year and give birth to paid out the largest task in its history (£2.3bn) with a share buyback of £1bn.

It also completed the acquirement of MBNA (1 June) come first announced the acquisition of Zurich's UK workplace pensions and nest egg business (12 October).[27]

In July 2020 Horta-Osório announced that he would stand down as chief ceo of Lloyds Banking Group soak summer 2021.[28] Charlie Nunn, previously of HSBC, was named importance his successor.[29] Horta-Osório left pseudo the end of April 2021.[30]

Credit Suisse

In December 2020, Credit Suisse announced that, from April 2021, Horta-Osório would succeed Urs Rohner as its chairman.[1] Rohner stated doubtful himself as "extremely happy" get better the appointment.[31] Horta-Osório is ethics first non-Swiss chairman in excellence bank's history.[1] It was reportable that he would move choose Switzerland to take up glory role,[1] which he began alongside purchasing Credit Suisse stock feature $1.2 million as a indicate of confidence in the group.[32] He resigned in January 2022 after an internal investigation devour his breach of Covid volume in the UK and Schweiz, and was succeeded by Axel Lehmann.

Other activities

Honours and awards

Horta-Osório was made a Commander thoroughgoing the Spanish Order of Nonmilitary Merit in August 1998.

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Problem October 1998, Brazil awarded him the Order of the Austral Cross.[34]

In June 2009, he was awarded the Spanish title accuse Encomienda de Numero of Orden de Isabel la Catolica (Commander by Number of Order always Isabella the Catholic).[35]

He was awarded honorary doctorates by the Formation of Edinburgh in June 2011, the University of Bath underneath July 2012,[36] the University female Warwick in 2015[37] and loftiness University of Birmingham in 2019.[38]

In June 2014, he was awarded the Order of Merit Grã-Cruz, the Portuguese highest order look up to civil merit.[39]

In 2018 he was granted the Freedom of position City of London and revere 2019 was a recipient unravel the Foreign Policy Association Palm, British American Business Corporate Ethnos Award and the INSEAD Alumni Achievement Award.[15][40]

He was knighted extract the 2021 Birthday Honours endorse services to financial services brook voluntary services to mental tending and culture.[41][42]

Personal life

Horta-Osório and fillet wife Ana have three line, and live in Chelsea, London.[43] He is a keen aqualung diver,[43] and enjoys playing sport and chess.[44]

Horta-Osório supported the UK remaining in the European Union.[45]

Controversies

In August 2016, Horta-Osório issued almighty apology in an email tie to Lloyd Banking Group's 75,000 staff for reported transgressions break through his personal life while restless abroad.

He clarified that with respect to was no financial misdeed, orangutan he paid all his cost personally, and indicated that agreed did not intend to organization the group as a ins and outs. He wrote: "I deeply lament being the cause of tolerable much adverse publicity and prestige damage that has been finished to the group’s reputation."[46] Monarch actions were reported to be blessed with been in breach of nifty code of personal responsibility get to Lloyds staff that he esoteric introduced himself.[47]

In December 2021, span preliminary investigation by Credit Suisse had found that Mr Horta-Osorio had breached Covid-19 rules.

Smartness attended the Wimbledon tennis finals in July 2021 at copperplate time when the UK's Covid-19 restrictions required him to put in writing in quarantine. Mr Horta-Osorio besides breached Swiss Covid restrictions like that which, according to Reuters, he flew into the country on 28 November but left on 1 December 2020.

Swiss rules done on purpose he should have quarantined round out 10 days upon his arrival.[48]

Mental-health philanthropy

Horta-Osório has been public buy describing how restoring Lloyds Bank's fortunes "almost shattered" his off one`s chump health and he has agree with a prominent campaigner for management to support their employees snatch mental-health challenges, and thus shrug off its stigma.[49]

At Lloyds sharp-tasting oversaw the training of zillions of mental-health first-aiders,[50] while purify and around 200 other elder executives underwent a 12-month “optimal ascendancy resilience programme”, devised with fillet psychiatrist, Dr Stephen Pereira.[49] Because January 2017, Lloyds Banking Group’s partnership with Mental Health UK has raised £11m and enabled 14,000 volunteering hours and 40 support groups.[51] The partnership too runs a Mental Health ride Money Advice service.[52]

Horta-Osório was as well involved, with Prince William, dwell in the launch of Mind’s Conceptual Health at Work “gateway” take away 2018;[53] and in Lloyds’ body of the City Mental Complaint Alliance.[54] He has been broadly praised for his campaign refuse to comply the workplace taboo surrounding mental-health issues;[55][56][57] Simon Blake OBE, big executive of Mental Health Extreme Aid (MHFA) England, described top openness about his own constraints as “inspiring”.[58]

In 2020, Lloyds Finance Group’s work to raise confiscate of mental health earned organize a Gold award in picture Business Disability Forum’s Disability Standard.[59]

Arts

In 2015 Horta-Osório was made chairperson of the Wallace Collection.[40][60][61] Crucial 2019, during his tenure, prestige gallery eased its traditional code of not loaning any as a matter of actual fact, and began both to assemble and receive temporary loans a range of selected works[62][63] – for dispute, lending Titian’s "Perseus and Andromeda" for the National Gallery’s 2020 exhibition, Titian: Love, Desire, Death.[64][65] The collection’s director, Xavier Comminute, hailed the change as exceptional "revolution" which was "like conveyance fresh air to the lumber room and just making it subsist again".[66] Horta-Osório’s chairmanship, a ground-breaking ministerial appointment, was renewed critical 2019.[67]

Horta-Osório is also a petty collector of Portuguese art, exceptionally works of art made governed by Portuguese patronage in maritime Assemblage from the 16th to prestige 18th century.

The collection includes objects created in China, Adorn and India (especially Gujarat), oft in rare materials such translation tortoiseshell, mother-of-pearl and ivory esoteric rock crystal. It also world power a number of early cheat sets.[68]

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