Credit Suisse is expected to provide an update on the bank’s exposure to the collapse of Archegos Capital next week. This will also indicate the consequences of this issue for Warner and some other top managers, says Bloomberg.
Brian Chin, CEO of Credit Suisse’s investment bank, should also fear for his job. According to news agency sources, that does not apply to CEO Thomas Gottstein.
Last week, Credit Suisse already issued a profit warning after financial problems at “a significant US hedge fund”. The bank said it feared a large loss, after the hedge fund did not meet so-called ‘margin calls’ from Credit Suisse and other banks.
The size of the loss can be “very significant” and substantial for the first quarter figures, Credit Suisse said last week, despite the favourable trends reported earlier by the Swiss bank.