The co-heads of prime broking at Credit Suisse are departing, the latest senior executives to leave the Swiss bank in the wake of its $4.7bn hit from collapsed family office, Archegos Capital.

John Dabbs and Ryan Nelson, who led Credit Suisse's prime services unit, are set to depart, according to a memo sent to staff on 19 April. The prime broking units of investment banks are responsible for dealing with hedge funds, and have been hit hard after the implosion of Archegos, the family office of former Tiger Asia manager Bill Hwang, which rocked global markets when it unwound around $20bn in positions in prominent tech firms.