[ N E W S R E V I E W | A R C H E G O S C A P I T A L M A N A G E M E N T ]
LOSSES FROM ARCHEGOS COLLAPSE * CREDIT SUISSE NOMURA MORGAN STANLEY UBS MUFG TOTAL
unacceptable ,” Thomas Gottstein , CEO of Credit Suisse , told investors on the bank ’ s first quarter 2021 earnings call . “ In combination with the recent issues around the supply chain finance funds , I recognise that these cases have caused significant concern
* figures from earnings reports accurate at time of print
$ 5.5 billion $ 2.87 billion $ 911 million $ 861 million $ 270 million $ 10.4 billion amongst all of our stakeholders .”
In response to the collapse of Archegos , Credit Suisse made sweeping changes to its leadership which included the immediate departure of Brian Chin , CEO of the investment bank business , and Lara Warner , chief risk and compliance officer . Bonuses were also waived for the executive board for 2020 .
Credit Suisse and Nomura were not the only banks to have had prime brokerage relationships with Archegos . Wall Street heavyweights Goldman Sachs and Morgan Stanley , alongside
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