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Archegos

Credit Suisse to boost capital ahead of further Archegos hit
Business & Finance

Credit Suisse to boost capital ahead of further Archegos hit

  • Its shares fell 5.7%, with analysts pointing to the further Archegos hit and dilution caused by the issuance announced on Thursday of bonds convertible into 203 million shares.
  • In response, the bank is cutting its prime brokerage business, which caters to hedge fund clients, by about a third.
Published 22 Apr, 2021 05:26pm
Credit Suisse in firing line after Archegos losses
Business & Finance

Credit Suisse in firing line after Archegos losses

  • Losses at Archegos, a family office run by former Tiger Asia manager Bill Hwang, sparked a sell-off in bank stocks on Monday as investors feared they would be forced to take big write-downs after extending billions of dollars in leverage to the fund.
  • Global lenders may lose more than $6 billion on Archegos, sources familiar with trades involving the US investment firm have said.
Published 30 Mar, 2021 09:12pm