Zurich: Credit Suisse Group AG on Tuesday announced an estimated loss of 4.4 billion Swiss francs ($4.7 billion) from its relationship with Archegos Capital Management LP, suspended a share buyback programme and cut its proposed dividend.
The Swiss bank, which has dumped over $2 billion worth of stock to end exposure to the troubled investor, also said its Chief Risk Officer Lara Warner and Brian Chin, the bank's investment banking head, were stepping down.
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