Credit Suisse’s Involvement in the Archegos Collapse: Risk Management and Internal Controls

Matthew Sooy, Artika Pahargarh

商品編號：W32401
出版日期：2023/01/03
再版日期：
商品來源：
商品主題：Accounting; Finance
商品類型：Case (Pub Mat)
涵蓋議題：risk management;total return swaps;internal controls
難易度：4 - Undergraduate/MBA
內容長度：10 頁
地域：United States
產業：Finance and Insurance
事件年度：2021

In 2021, the investment bank Credit Suisse Group AG lost an estimated US$6.4 billion from exposure to two hedge fund implosions that occurred within a month. Archegos Capital Management lost US$4.7 billion and Greensill Capital lost US$1.7 billion. Various arrangements between Credit Suisse Group AG and Archegos Capital Management, as well as structural factors at Credit Suisse Group AG, may have contributed to the bank having a higher level of exposure to these collapses than its industry peers. Underlying these miscues were recent changes in leadership, strategy, and tone at Credit Suisse Group AG. All three of these changes appeared to have collectively impaired the skepticism and voice exercised by its risk management group. In July 2021, Credit Suisse Group AG replaced its chief risk officer in an attempt to reshuffle its risk and compliance leadership. The task of the new chief risk officer was to reshape Credit Suisse Group AG’s risk management framework and internal controls, from the top to the bottom.

教學手冊：Credit Suisse’s Involvement in the Archegos Collapse: Risk Management and Internal Controls - Teaching Note
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