Archegos revisited: the gaps in Credit Suisse’s story

Ahead of shareholder vote, former execs point to gaps in key report – raising new questions about accountability

Editor’s note: Reports published by the UK Prudential Regulatory Authority and US Federal Reserve in 2023 found that Credit Suisse’s New York-based prime services and risk management staff were responsible for overseeing and risk managing its derivatives transactions with Archegos – not the London-based team that was led by Ryan Nelson. The PRA also found that Credit Suisse’s London-based prime services executives discharged their responsibilities under the UK’s Senior Managers and Certification