The Swiss bank's most vocal big shareholder weighed in on Chairman António Horta-Osório's ignoring quarantine rules in traveling between Switzerland and the U.K.
Zurich-based Credit Suisse won the support of institutional shareholder Harris Associates, which said it supports Chairman António Horta-Osório. The 57-year-old overseer is in a maelstrom over twice skipping out of quarantine, in the U.K. and in Switzerland.
«We are 100 percent supportive of the chairman’s efforts and feel quite strongly he is putting CS on the road to recovery,» fund manager David Herro told «Reuters» in an email. «We view these minor infractions as nothing but distractions and the focus must be on the major issue at hand: Credit Suisse's turnaround.»
Chicago, IL-based Herro is the most vocal of Credit Suisse's big shareholders: others like Qatar, Saudi Arabia's wealthy Olayan clan, Blackrock, Dodge and Cox, and Silchester have rarely or never commented. Herro unsuccessfully fought to keep ex-CEO Tidjane Thiam at Credit Suisse last year.
