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Credit Suisse CEO Faces Anger in the Ranks on Archegos Mess (2)

April 8, 2021, 10:10 AM

For the second time in a little more than a week, Thomas Gottstein was facing a tough crowd: his own bankers.

The chief executive officer of Credit Suisse Group AG gathered dozens of managing directors at the global bank on a conference call late Tuesday, as part of crisis-management efforts after the lender announced that it stands to lose as much as $4.7 billion amid the meltdown of hedge fund Archegos Capital Management.

WATCH: WATCH: Credit Suisse CEO Gottstein is facing tough questions from his own staff, his board and investors about losses tied to Archegos. Su Keenan reports.
(Source: Bloomberg)

According to people with knowledge of the call, Gottstein was grilled on the exposure and risk profile of the bank -- and why it lost ...