Horta Osorio was knighted in the United Kingdom – Economy

Antonio Horta Osorio will receive a knighthood from Queen Isabel II. He thus becomes “Sir” – a treatment given to Knights of the Order of the British Empire. A person who receives this distinction and is not a British citizen cannot be called ‘Sir’, but is conferred an honorary knighthood – and can, if you wish, add the suffix KBE [Knight of the British Empire] your nickname. But Horta Osorio has dual citizenship since 2014, so it will be “sir”.

Twice a year, on January 1 and June (on the Queen’s official birthday), lists of names – usually over 1,000 – are issued to those who will be awarded the Order, after approval by a commission for this purpose. All recommendations. and the banker It is in the list Who will receive this honor now.

In the list, it is emphasized that this distinction Horta Osório is due to the service provided in the context of financial services and voluntary services in the fields of mental care and culture.

Horta Osorio stated in response to this award: “I am very honored to receive such a prestigious accolade. I have spent more than half of my career in the UK and it has been a great honor to lead Lloyds Banking Group for a decade.”

“While this is a personal appreciation, I believe it reflects the efforts of the many thousands of colleagues at Lloyd’s Banking Group, who have been tirelessly in their service to British customers and taxpayers throughout my time there,” he added in a statement. for work.

This distinction given to Horta Osório has been reported in various headlines of the international media, such as financial timesAnd the WatchmanAnd the the NationalAnd the daily Mail e The daily business.

Remember that after leaving Lloyd’s Britain’s chief executive last April, Horta Osorio is now accumulating as “chairman” of Credit Suisse and “chairman” of Biel.

Horta Osorio – a lover of chess, tennis player, diving and skiing in his spare time – has a long history of banking.

The manager, currently 57 years old, started his professional activity in 1987 at Citibank and later worked for Goldman Sachs in New York and London. In 1993 it joined the Santander Group and in 2000, following an agreement between Antonio Champagliod, Santander and Caixa Geral Depositos, the Spanish group now owns Banki Tota and Credito Predeal Portugues (plus Santander de Negosios and Santander Portugal). Horta Osorio was appointed CEO of the four banks that were later merged into Banco Santander Totta.

In 2006, he left for London to lead Abby, of the Santander Group, and on March 1, 2011 he replaced Eric Daniels as CEO of Lloyd’s. He was chosen as the right man to lead the transformation of Lloyds Banking Group.

The Portuguese manager’s job was to restructure Lloyd’s – which included selling 600 branches by November 2013 – and to return the money the UK Treasury had pumped into the institution to avoid bankruptcy and “hire several key people to the team”. The problems that Horta Osorio said he alone could solve. And he did, but not before he collapsed at a very early stage — eight months into office.

The fact that Horta Osorio became aware of this exhaustion caused by great stress that deprived him of many hours of sleep is cited as an important moment for the financial sector.

Chancellor Sandra Navidi, in her book Superhubs – How Financial Elites and Their Networks Control Our World, published in Portugal by Lua de Papel in 2017, highlights this same fact. “During and especially after the financial crisis, many CEOs experienced malfunctions that were covered up and remedied in most cases with medication, including antidepressants. Lloyd’s CEO Antonio Horta Osorio was the only case that received significant attention from a senior executive. He admitted he was in a state of exhaustion.After less than a year in the position, receiving an annual wage package of £8.3m, plus a £4m income bonus, he was forced to take sick leave due to the stress-related stress, Navidi wrote.

“Who knows how many of these seemingly indomitable CEOs are secretly suffering? Of course they can break free at any time from this self-imposed prison, but they are usually unable to escape from their characters’ prison. Although. They have enormous career prospects if they leave their positions, for for many of them the potential loss of prestige, recognition and power is more intolerable than the strain of the most demanding roles in their efforts to stay on top.”