Credit Suisse Shareholder Says Archegos Is ‘Wake-Up Call’
- Harris Associates CIO David Herro speaks on Bloomberg TV
- Harris is one of the Swiss lender’s biggest shareholders
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David Herro said Credit Suisse Group AG’s expected losses from the Archegos Capital crisis should lead to sweeping changes to its culture and oversight practices.
“Risk controls still are not where they should be,” Herro said in an interview with Bloomberg Television Wednesday. “Hopefully this is a wake-up call to expedite the cultural change that is needed in this company.”