Credit Suisse Had Over $20 Billion Exposure to Archegos Investments

22 April 2021

    Credit Suisse had more than $20 billion of exposure to investments related to Archegos Capital Management and failed to monitor them before the fund had to liquidate many large positions, the Wall Street Journal reported.


    The massive losses at Archegos last month prompted Credit Suisse to replace its heads of investment banking and of compliance and risk after it said it would book a $4.7 billion first-quarter charge from exposure to the beaten firm.


    Upper management became aware of the Archegos exposure only in the days leading up to the forced liquidation of the fund, since parts of the Credit Suisse bank were not fully equipped with the systems required to keep up with Archegos’ quick growth when the company bet on a collection of stocks that swelled before its March downfall.


    Switzerland's second-biggest bank has already faced exposure to the collapse of the British fund - Greensill Capital and now the US Archegos - all within the course of one month.

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