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Credit Suisse had surprise $20 billion exposure to Archegos investments
Credit Suisse Group AG amassed more than $20 billion of exposure to investments related to Archegos Capital Management, but the bank struggled to monitor them before the fund was forced to liquidate many of its large positions, according to people familiar with the matter. The U.S. family investment firm’s bets on a collection of stocks swelled in the lead-up to , but parts of the investment bank hadn’t fully implemented systems to keep pace with Archegos’s fast growth, the people said.Credit Suisse Chief Executive Thomas Gottstein, and Chief Risk Officer Lara Warner,...…Credit Suisse Group AG amassed more than $20 billion of exposure to investments related to Archegos Capital Management, but the bank struggled to monitor them before the fund was forced to liquidate many of its large positions, according to people familiar with the matter. The U.S. family investment firm’s bets on a collection of stocks swelled in the lead-up to , but parts of the investment bank hadn’t fully implemented systems to keep pace with Archegos’s fast growth, the people said.Credit Suisse Chief Executive Thomas Gottstein, and Chief Risk Officer Lara Warner,...WW…
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