After the collapse of the hedge fund Archegos Capital, the co-chairs of Prime Brokerage are stepping down with immediate effect.
The collapse of Credit Suisse’s Archegos Capital hedge fund is spreading. The co-chairs of the brokerage division in charge, John Dabbs and Ryan Nelson, resigned immediately, according to an internal letter from the large bank that was available to Reuters on Monday.
Roger Anerella has been appointed interim director of the division. It will focus on stabilizing the region, taking measures to prevent similar accidents and setting up businesses so that customers are served optimally. The Wall Street Journal had earlier reported the resignations.
Nearly two weeks ago, the institute sacked Head of Risk Management Lara Warner and Head of Investment Banking Brian Chen in connection with the loss related to Archegos of 4.4 billion Swiss francs.