Former Lloyds Banking Group boss and the chairman of Credit Suisse, Antonio Horta-Osorio, has resigned with immediate effect after breaking Coronavirus quarantine rules.

Mr Horta-Osorio was with the bank for just nine months.

He left after an internal investigation into a breach of Coronavirus quarantine rules last year.

The former boss of Lloyds Banking Group joined Credit Suisse in April 2021.

Mr Horta-Osorio has admitted to breaking Coronavirus quarantine rules in 2021, including attending the Wimbledon tennis finals.

He also breached Swiss Coronavirus restrictions when he flew into the country on 28 November but left on 1 December. Under Swiss rules at the time he should have quarantined for 10 days on arrival.

He said: "I regret that a number of my personal actions have led to difficulties for the bank and compromised my ability to represent the bank internally and externally.

"I therefore believe that my resignation is in the interest of the bank and its stakeholders at this crucial time."

He has been replaced as chairman of Credit Suisse by board member Axel Lehmann.

Mr Horta-Osorio was formerly chief executive at Lloyds Banking Group for 10 years.