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2021

Credit Suisse reveals $4.7B hit from Archegos chaos, replaces execs

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Archegos Capital Management’s massive blowup cost Credit Suisse $4.7 billion, the Swiss bank revealed Tuesday as it pushed out two top executives in the scandal’s wake. Credit Suisse said it expects to post a roughly $959 million loss for the first quarter following the giant margin call that forced Archegos — the family investment office...














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