The former head of Lloyds Bank has admitted breaking Covid rules after returning to Switzerland from the UK last week.
Antonio Horta-Osorio, who is now President of Credit Suisse, traveled to Switzerland on November 28, where he was quarantined for 10 days.
However, only three days later, on December 1st, he flew to the Iberian Peninsula in a private jet.
Mr Horta-Osorio had been informed by the Swiss authorities that there would be no special exceptions and that he should remain in isolation for the entire period.
The banking veteran said: “I unintentionally violated the Swiss quarantine rules by leaving Switzerland early on December 1st. I sincerely regret this mistake. I apologize and will make sure that something like this does not happen again.”
Credit Suisse said it “regrettably acknowledged” the violation, adding that compliance with the guidelines is a top priority.
Mr Horta-Osorio moved to the UK from Portugal in 2006 to head the UK branch of Santander and was then appointed CEO of Lloyds in early 2011.
He returned the rescued lender to private property and profitability, but received criticism for having had an extramarital affair while on a business trip.
The FTSE bank emerged from the 2008 financial crisis thanks to a rescue agreement with the government.
Taxpayers had bought a 43 percent stake in exchange for over £ 20 billion, but the state managed to sell all of its shares back to the market by 2017.
Former Bank of England Governor Lord Mervyn King said Mr Horta-Osorio had “turned Lloyds from a taxpayer liability into an asset for the country”.