The Portuguese banker, who led Credit Suisse until earlier this year, will join the Italian bank as a senior adviser from next month.
António Horta Osório, who left the presidency of Credit Suisse earlier this year, has been hired by Italian bank Mediobanca. The Portuguese banker will be a senior advisor to the board of directors from August, and will be responsible for managing the investment bank’s acquisitions on the European continent, the Financial Times reported.
The British newspaper highlights the friendship of almost three decades between Horta Osório and Alberto Nagel, chief executive of Mediobanca, who considers that the Portuguese banker has “the capacity to lead companies that are going through moments of strategic reassessment.”
“Horta Osório’s vision and network of contacts will help expand Mediobanca’s business, and it will be important to have someone like him on the board in the context of the ongoing consolidation of the European banking sector,” said a source with knowledge of the subject.
This is one of several positions in different companies that Horta Osório has negotiated for himself over the past six months, with others yet to be announced, according to people close to the Portuguese banker. This week, he resigned from the board of directors of insurer PartnerRe, after it was bought by France’s Covéa.