Only a few months ago, while still Lloyds Banking Group chief executive, António Horta-Osório – now chairman of Credit Suisse, based in Zurich – told Euromoney how he felt on being invited, in a personal capacity, to be a member of the court of the Bank of England in 2008 a few years after he moved to London.
“It touched me very deeply,” he said. “It was an example of being completely part of London and UK society.”
Imagine how he feels now. The long list of Euromoney awards that Lloyds has received under his tutelage must seem like mere trifles.
Why the wait?
The knighthood reflects Horta-Osório’s career in banking as well as for his charitable activity in mental health and the arts. But for those who know him, the real question will be: why did it take Her Majesty so long?
Of course, it is not the Queen who makes these decisions. The various committees that do are made up of other pillars of the establishment, such as Ian Cheshire and Douglas Flint, former chairmen of Barclays UK and HSBC, respectively.
One wonders if Horta-Osório’s move away from the frontline of UK banking made the title more palatable to the wider public.