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Credit Suisse to reveal losses from Archegos; 2 execs to depart: sources


4 Min Read
NEW YORK (Reuters) - Credit Suisse Group AG will on Tuesday detail losses from its relationship with Archegos Capital Management LP after dumping over $2 billion worth of stock to end exposure to the troubled investor, two sources familiar with the matter said.
FILE PHOTO: The logo of Swiss bank Credit Suisse is seen at its headquarters in Zurich, Switzerland March 24, 2021. REUTERS/Arnd Wiegmann
The episode, which analysts have said could cost the Swiss bank several billion dollars, is also expected to result in the departures of Chief Risk Officer Lara Warner and Brian Chin, the bank’s investment banking head, the sources said. ....

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Credit Suisse overhauls management as it takes $4.7 bln hit on Archegos


Publishing date: Apr 06, 2021  •  1 hour ago  •  4 minute read  • 
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ZURICH Credit Suisse said on Tuesday it will take a 4.4 billion Swiss franc ($4.7 billion) hit from dealings with Archegos Capital Management, prompting it to overhaul the leadership of its investment bank and risk division.
The scandal-hit bank now expects to post a loss for the first quarter of around 900 million Swiss francs. It is also suspending its share buyback plans and cutting its dividend by two thirds.
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Credit Suisse overhauls management as it takes $4.7 bln hit on Archegos Back to video ....

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Credit Suisse to detail losses from Archegos, two execs to depart


Credit Suisse to detail losses from Archegos, two execs to depart
The episode, which analysts have said could cost the Swiss bank several billion dollars, is also expected to result in the departures of Chief Risk Officer Lara Warner and Brian Chin, the bank s investment banking head, the sources said
Reuters | April 6, 2021 | Updated 20:55 IST
The two executives are paying the price for a year in which Credit Suisse s risk management protocols have come under harsh scrutiny
Credit Suisse Group AG will on April 6 detail losses from its relationship with Archegos Capital Management LP after dumping over $2 billion worth of stock to end exposure to the troubled investor, two sources familiar with the matter said. ....

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Credit Suisse to reveal losses from Archegos; two executives to depart

Credit Suisse Group AG will on Tuesday detail losses from its relationship with Archegos Capital Management LP after dumping over $2 billion worth of stock to end exposure to the troubled investor, two sources familiar with the matter said. The episode, which analysts have said could cost the Swiss bank several billion dollars, is also expected to result in the departures of Chief Risk Officer Lara Warner and Brian Chin, the bank's investment banking head, the sources said. Credit Suisse and Archegos declined to comment. ....

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