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Credit Suisse estimates Archegos fallout at $4.7B, overhauls executive board

Credit Suisse estimates Archegos fallout at $4.7B, overhauls executive board

Credit Suisse announced the removal of two key execs, cutting of bonuses for directors, slashing of dividend amid the fallout of two key business relationships. The bank revealed $4.7B in losses reeling from exposure to Archegos. Besides, it is yet to disclose the losses from exposure to funds of Greensill. Chief risk officer Lara Warner and investment banking chief Brian Chin are stepping down.

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