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Banks warn of ‘significant losses’ as they exit positions with large U.S. hedge fund
LONDON — Credit Suisse and Nomura warned Monday of “significant” hits to first-quarter results, after they began exiting positions with a...
While neither Credit Suisse nor Nomura named the fund, it’s been widely reported that Archegos Capital Management is the firm connected to the fire sale.
- Elliot Smith
- CNBC
In a trading update before the market open, Credit Suisse said a number of other banks were also affected and had begun exiting their positions with the unnamed firm.
The Zurich-based lender’s shares were down more than 15% during afternoon trade following the announcement…