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Credit Suisse takes $4.7 billion hit from Archegos hedge fund scandal - Printable Version +- Ipoh Community Forums (https://forums.ipoh.com.my) +-- Forum: News and Current Affairs (https://forums.ipoh.com.my/forum-11.html) +--- Forum: International News (https://forums.ipoh.com.my/forum-13.html) +---- Forum: Business, Economy and Investment (https://forums.ipoh.com.my/forum-56.html) +---- Thread: Credit Suisse takes $4.7 billion hit from Archegos hedge fund scandal (/thread-1268.html) |
Credit Suisse takes $4.7 billion hit from Archegos hedge fund scandal - superadmin - 04-06-2021 Credit Suisse takes $4.7 billion hit from Archegos hedge fund scandal; execs step down
![]() Credit Suisse on Tuesday announced several high-level staff departures and proposed a cut to its dividend as it weighs heavy losses from the Archegos Capital saga.
The Swiss lender now expects a first-quarter pre-tax loss of around 900 million Swiss francs ($960.4 million), after taking a charge of 4.4 billion Swiss francs as a result of the scandal. “The significant loss in our Prime Services business relating to the failure of a U.S.-based hedge fund is unacceptable,” CEO Thomas Gottstein said in a trading update. - More - |