Credit Suisse to cut dividend, overhaul senior management and book US$4.7 billion in first-quarter loss from Archegos fallout

• Loss related to Archegos’ margin calls will hit Credit Suisse with a US$4.7 billion first-quarter charge, pushing the bank into a pre-tax loss of approximately US$960 million
• The Swiss bank will cut its 2020 dividend and overhaul its senior management