The task of the new risk management department, led by Amelie Perrier, will be to monitor the trading positions of the bank’s customers, which may even pose risks to them.
The opening of the new department took place after Credit Suisse ran into two more serious stock market scandals this year, which highlighted the bank’s risk management and corporate culture shortcomings and weaknesses. The Swiss financial services provider lost billions in the collapse of Greensill Capital this year, and then another $ 5.5 billion in the collapse of Archegos Capital in March with a big bang (moreover, the bank earned only $ 17.5 million on this collaboration while lending in billions). to Archegos).
Mainly due to the recent scandal, several senior executives have left the bank, which recently announced a capital increase and structural reorganization. – the latter includes the creation of a new risk monitoring unit.
The Archegos scandal dragged many big banks with it, but none as much as Credit Suisse, which waited too long to close its positions. While Credit Suisse lost $ 5.5 billion, Morgan Stanley, UBS and Nomura totaled five.
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Source: Portfolio.hu – Bank by www.portfolio.hu.
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