Article: After Taking $4.7 Billion Hit, Credit Suisse Executives Step Downs

Article - Media, Publications

After Taking $4.7 Billion Hit, Credit Suisse Executives Step Downs

Alicia McElhaney, 06 April 2021

The hits keep coming for investment banking giant Credit Suisse.

The firm announced Tuesday that it expects to take a CHF 4.4 billion (USD $4.7 billion) writedown following losses related to family office Archegos Capital Management’s failure to meet its margin requirements.

Executives are stepping down, and the firm has launched two investigations: one into Archegos, and another into Credit Suisse’s purchase of Greensill Capital’s supply chain debt. Thomas Gottstein, chief executive officer of the firm, called the losses tied to Archegos “unacceptable.” Continue reading “Article: After Taking $4.7 Billion Hit, Credit Suisse Executives Step Downs”

Article: The Fake Larry Fink Letter That Duped Reporters

Article - Media, Publications

The Fake Larry Fink Letter
That Duped Reporters

Alicia McElhaney, 16 January 2019

Asset management giant BlackRock is investigating a fake letter sent to reporters by someone posing as the firm’s chief executive officer Larry Fink, a spokesperson said Wednesday. “Don’t be fooled by imitations…Larry’s real CEO letter coming soon,” BlackRock tweeted Wednesday. The Financial Times was duped by the letter, which focused on climate change, a report from the news outlet said Wednesday. Continue reading “Article: The Fake Larry Fink Letter That Duped Reporters”