Switzerland’s Credit Suisse and Japan’s Nomura are expected to bear the brunt of the blowout.
WHILE banks including Goldman Sachs, Morgan Stanley and Deutsche Bank were able to exit their trades with Archegos Capital relatively unscathed, Credit Suisse and Nomura have been burned in the fire sale.
The blowup of the Archegos fund, a family office run by former Tiger Asia manager Bill Hwang, is still reverberating across the financial system, with global banks so far standing to lose more than US$6bil (RM24.88bil).
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