Investment Banking

‘You have to wonder what this says about Credit Suisse risk management’

Credit Suisse’s latest blow from hedge fund Archegos Capital comes on the back of the Greensill collapse and the Wirecard scandal

Credit Suisse CEO Thomas Gottstein has faced a brutal month, with losses stemming from Greensill and now Archegos Capital
Credit Suisse CEO Thomas Gottstein has faced a brutal month, with losses stemming from Greensill and now Archegos Capital Photo: Ahmed Yosri/Alamy

Credit Suisse was dealt another blow on the heels of massive losses from the Greensill collapse, sparking worries about the potential scale of the fallout.

The Swiss bank warned of “highly significant and material” losses over the sale of around $20bn in US and Chinese stocks, after hedge fund Archegos Capital Management, the family office of hedge fund manager Bill Hwang, unwound a clutch of assets in a fire sale.

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