Bill Hwang, founder of of Tiger Asia Management LLC, (right) with his attorney Lawrence Lustberg in Newark, New Jersey, on Wednesday, December 12, 2012. Photo: Bloomberg
Bill Hwang, founder of of Tiger Asia Management LLC, (right) with his attorney Lawrence Lustberg in Newark, New Jersey, on Wednesday, December 12, 2012. Photo: Bloomberg
Hedge funds

Goldman’s U-turn on Archegos Capital’s Bill Hwang puts the Wall Street bank at the nexus of margin call mayhem in world markets

  • Goldman emailed clients to tell them that it had been one of the banks selling as much as US$10.5 billion in holdings, according to an email seen by Bloomberg
  • By Friday morning, one bank after another had started exercising the right to declare Hwang in default and liquidate his positions to recover their capital

Bill Hwang, founder of of Tiger Asia Management LLC, (right) with his attorney Lawrence Lustberg in Newark, New Jersey, on Wednesday, December 12, 2012. Photo: Bloomberg
Bill Hwang, founder of of Tiger Asia Management LLC, (right) with his attorney Lawrence Lustberg in Newark, New Jersey, on Wednesday, December 12, 2012. Photo: Bloomberg
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