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Greensill, Gupta and the Fragile Tower of Money and Metal

It’s taken just days for Lex Greensill’s empire to collapse

The Greensill Bank AG offices in Bremen
Photographer: Markus Hibbeler/Bloomberg
Updated on

Lex Greensill’s business has unraveled at a blistering pace, leaving a tangled trail of destruction all around it.

On Monday, Greensill Capital filed for administration in the U.K., capping a stunning collapse for its founder. The bank that he owns in Germany has been shut down by regulators, the funds he ran in partnership with Credit Suisse are being liquidated and his firm is in the process of being broken up with its core perhaps sold to Apollo-backed Athene Holding Ltd.