What is the kind of losses that Archegos Capital has inflicted?
Answer
Answer
Archegos has inflicted losses of $4.7 billion on Credit Suisse after its TRS on stocks like Baidu and Viacom crumbled. Other prime brokers like Goldman, Morgan Stanley and Nomura were also impacted although it is Credit Suisse and Nomura who are likely to book big losses. The investment head and Chief Risk Officer have stepped down following the loss.