Credit Suisse will take a CHF4.4bn (£3.4bn) hit in the wake of the collapse of Archegos Capital Management, and has ousted two of its top executives as the fallout from the crisis continues.
The head of Credit Suisse’s investment bank, Brian Chin, and its chief risk officer, Lara Warner, are stepping down as the bank braces for a CHF900m loss in the first quarter from its exposure to the $20bn Archegos Capital Management fire sale that has rocked Wall Street.
