By Olivia Bugault 
 

Credit Suisse Group AG said Tuesday that its board of directors has proposed that Antonio Horta-Osorio, chief executive of Lloyds Banking Group PLC, be elected as the Swiss bank's next chairman at its annual general meeting on April 30, 2021.

Mr. Horta-Osorio would succeed Urs Rohner, who will step down in 2021, Credit Suisse said.

Mr. Horta-Osorio informed Lloyds's board that he agreed to be proposed for election as new Credit Suisse's board chairman starting May 1, 2021, Lloyds said Tuesday. Mr. Horta-Osorio accordingly agreed to step down as Lloyds's CEO on April 30, 2021, the FTSE 100-listed bank said.

Lloyds Banking Group PLC said Monday that it will appoint HSBC Holdings PLC's Charlie Nunn, currently serving as HSBC's global CEO of its wealth and personal-banking division, as its next chief executive and executive director, succeeding Mr. Horta-Osorio.

 

Write to Olivia Bugault at olivia.bugault@wsj.com

 

(END) Dow Jones Newswires

December 01, 2020 03:47 ET (08:47 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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