Lawyers at the Securities and Exchange Commission, Archegos Capital Management, $10 billion family investment office suddenly crashed In March, it slammed the stock market as its losses hit the banking sector. The subpoena was served on the firm in the past few weeks, according to a person familiar with the matter who is not authorized …
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Young employees took the place of experienced managers. The report said the team responsible for overseeing Archegos and other customers “struggled to do more with less resources and less experience.” Archegos’ collapse came as a shock to outsiders, but the risk of doing business with the fund has been obvious for years, according to the …
Continue reading “Credit Suisse Report Details Failures in Archegos Debacle”
Credit Suisse It released a report Thursday that examines in painful detail the “fundamental failure of management and controls” that caused the bank to lose $5.5 billion from its business with mutual fund Archegos Capital Management earlier this year. But investigators from the New York law firm hired to conduct the autopsy attributed the losses …
Continue reading “Credit Suisse Report Details Failures in Archegos Debacle”
Credit Suisse It released a report Thursday that examines in painful detail the “fundamental failure of management and controls” that caused the bank to lose $5.5 billion from its business with mutual fund Archegos Capital Management earlier this year. But investigators from the New York law firm hired to conduct the autopsy attributed the losses …
Continue reading “Credit Suisse Report Details Failures in Archegos Debacle”