A Credit Suisse sign hangs outside its Manhattan office on March 29, 2021 in New York City. Photo: AFP A Credit Suisse sign hangs outside its Manhattan office on March 29, 2021 in New York City. Photo: AFP
A Credit Suisse sign hangs outside its Manhattan office on March 29, 2021 in New York City. Photo: AFP

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

Topic |   Accounting and Auditing
A Credit Suisse sign hangs outside its Manhattan office on March 29, 2021 in New York City. Photo: AFP A Credit Suisse sign hangs outside its Manhattan office on March 29, 2021 in New York City. Photo: AFP
A Credit Suisse sign hangs outside its Manhattan office on March 29, 2021 in New York City. Photo: AFP
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