(Bloomberg) -- Antonio Horta-Osorio, the former chairman of Credit Suisse Group AG, is joining Cerberus Capital Management LP as a senior adviser focused on European banking. 

Horta-Osorio, ousted from his role at the Swiss bank in January for breaching Covid quarantine rules, will work on the $60 billion US private-equity firm’s financial deals across Europe, according to a person familiar with the matter who asked for anonymity.

An external spokesperson for Cerberus didn’t immediately respond to a request for comment on the appointment, which was first reported by the Wall Street Journal.

The 58-year-old Portuguese banker brings an extensive network to the US private equity firm, which has invested in several major European lenders with mixed success. His more than three decades in banking included roles at Banco Santander SA and Lloyds Banking Group Plc, which he brought bank from the brink.

Cerberus took big stakes in recent years in European lenders including Commerzbank AG and Deutsche Bank AG, betting on a recovery and much-needed consolidation in the industry. The wagers proved early, and the US firm scaled back both investments this year after bank stocks benefited when central banks started to raise interest rates.

Horta-Osorio built his reputation over a decade at Lloyds, where at one point he became the longest-serving bank boss in Britain. While his pay package often stoked controversy, he steered Lloyds to profitability and full private ownership after a bailout during the financial crisis.

At Credit Suisse, he left after less than a year, following accusations of flouting coronavirus quarantine rules with several trips abroad, including flying to London to watch the Wimbledon tennis tournament.

He is joining Cerberus after agreeing to a role as adviser at Italy’s Mediobanca in July, where he’s tasked with helping expand client relationships and deal activity across Europe.

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