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Credit Suisse Emerges as Archegos Loser With $4.7 Billion Hit

  • Risk chief Warner, investment bank head Chin to leave
  • Bank cuts dividend, suspends buyback after writedown
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Credit Suisse Executives Depart on $4.7 Billion Archegos Hit
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Credit Suisse Group AG emerged as the big loser in global investment banks’ race to the exits following the implosion of Archegos Capital Management, with the fiasco leading to a quarterly loss and a major shakeup at the top of the Swiss bank.