Hedge Funds

Credit Suisse Earnings Q1 2021: Archegos Hedge Fund Weighs

by cnbc.com posted 4months ago 119 views
The Swiss lender warned of heavy losses earlier this month after a scandal involving U.S.-based hedge fund Archegos Capital. : LONDON — Credit Suisse reported Thursday a net loss of 252 million Swiss francs ($275 million) for the first quarter, at a time of increased pressure on the bank. Shares fell 5% in early European trading hours. It said the loss reflected a "significant charge with respect to the US-based hedge fund matter in 1Q21 (first quarter), offsetting positive performance across wealth management and investment banking."