Land AHOy

1 December 2020 By Liam Proud Follow @liamwardproud

The group hired Lloyds’ António Horta-Osório as its next chairman. Perennial CEO contender Jean Pierre Mustier will soon be up for grabs after leaving UniCredit. Passing around talent works for those who woo top names, but smacks of an industry struggling to bring in fresh blood.

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Credit Suisse on Dec. 1 said it would propose outgoing Lloyds Banking Group Chief Executive António Horta-Osório as its next chairman at an April 30 shareholder meeting. If approved, he would succeed Urs Rohner, who has headed the board since 2011 and was vice-chairman for two years before that.

Fifty-six-year-old Horta-Osório will be succeeded at Lloyds by HSBC’s head of wealth and personal banking Charlie Nunn, the UK lender said on Nov. 30. Italian peer UniCredit said on the same day that CEO Jean Pierre Mustier would leave by the end of April.

Credit Suisse shares were trading at 11.5 Swiss francs as of 0907 GMT on Dec. 1, up 0.5%.

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