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Credit Suisse reshuffles management amid Greensill, Archegos fallout; foresees hefty losses

Credit Suisse Group HQ, Zurich

Credit Suisse has made sweeping changes to its senior management following the suspension of its Greensill supply chain finance funds and a US$4.7 billion write-down linked to hedge fund Archegos Capital’s crash. It has predicted a grim impact on its 1Q21 financial performance, which could amount to a loss of CHF 900 million (US$967 million). According to an announcement issued…

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