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Credit Suisse overhauls executive board as it estimates Archegos fallout at US$4.7 billion Toggle share menu Advertisement Credit Suisse overhauls executive board as it estimates Archegos fallout at US$4.7 billion Credit Suisse on Tuesday said it was replacing senior managers and reducing proposals for its 2020 dividend and executive compensation as it grapples with the estimated 4.4 billion Swiss franc (US$4.69 billion) fallout from its relationship with Archegos Capital Management LP. FILE PHOTO: The logo of Swiss bank Credit Suisse is seen a...

Switzerland's No. 2 bank, which has dumped over $2 billion worth of stock to end exposure to Archegos, said Chief Risk Officer Lara Warner and Brian Chin, the bank's investment banking head, were stepping down following the losses

Investment Bank CEO Brian Chin and Chief Risk and Compliance Officer Lara Warner will step down from their roles with immediate effect.

Credit Suisse will absorb a $4.7 billion writedown in the wake of the Archegos blow-up - and says several top executives are leaving snagarajan@businessinsider.com (Shalini Nagarajan) Credit Suisse disclosed a $4.7 billion hit on Tuesday after the Archegos Capital meltdown. Investment bank CEO Brian Chin and risk boss Lara Warner are leaving the bank in April. The European lender has proposed a dividend cut and waived bonuses for the 2020 financial year. Popular Searches The European lender sees an overall loss of $958 million for the first quarter after two significant crises...

Credit Suisse Takes $4.7 Billion Archegos Hit, Replaces Warner This content was published on April 6, 2021 - 07:52 April 6, 2021 - 07:52 (Bloomberg) -- Credit Suisse Group AG will take a 4.4 billion franc ($4.7 billion) writedown tied to the implosion of Archegos Capital Management and replace more than half a dozen executives in response to the firm’s worst trading debacle in over a decade. The charge will result in a pretax loss of about 900 million francs for the first quarter, the bank said in a statement Tuesday, putting it on track for its second straight net loss. Credit Suisse scra...