Finance
Credit Suisse Banker Was Awarded $590,000 Over Archegos Firing
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Credit Suisse Group AG’s former prime brokerage co-head was awarded a little more than $590,000 by an arbitration panel after being fired following the collapse of Archegos Capital Management, though he originally sought more than $100 million from the bank.
Ryan Nelson revealed his March 2024 award Monday in a Manhattan federal court filing seeking to enforce it. He had asked a Financial Industry Regulatory Authority panel to grant him at least $7 million in compensatory damages and at least $100 million for reputational harm and lost future income. But the arbitrators determined that Credit Suisse was liable for far less. They didn’t state reasons for their decision.