Home News Company in the news

Credit Suisse executives to depart after Archegos losses

Bloomberg
Bloomberg4/6/2021 9:7 PM GMT+08  • 4 min read
Credit Suisse executives to depart after Archegos losses
Changes will reverberate through key parts of the bank.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Credit Suisse Group AG is shaking up its executive ranks after the Zurich-based lender was hit hard by the collapse of Archegos Capital Management.

Investment bank chief Brian Chin is set to leave in an exit that may be announced as soon as Tuesday, according to people familiar with the matter, who asked not to be identified because the move hasn’t been made public. Chief Risk Officer Lara Warner is also departing, along with a number of business heads, although Chief Executive Officer Thomas Gottstein will be spared.

Archegos, a US family office that defaulted on margin calls, could account for billions of dollars of losses at Credit Suisse. The firm has acknowledged the damage will be significant, and is set to give investors an update this week. The firm is also planning a review of its prime-brokerage business.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.