Archegos, firm central to Wall St. turmoil, says 'all plans are being discussed': statement

Reuters2021-03-30

NEW YORK (Reuters) - Archegos Capital Management, the private investment firm at the center of recent turmoil on Wall Street, said in a statement that “all plans are being discussed as Mr. Hwang and the team determine the best path forward.”

“This is a challenging time for the family office of Archegos Capital Management, our partners and employees,” Karen Kessler, a spokesperson for Archegos Capital, added in the statement.

Losses at Archegos, run by former Tiger Asia hedge fund Bill Hwang, triggered a fire sale of stocks on Friday, a source familiar with the matter has saidhere.

Nomura and Credit Suisse are facing billions of dollars in losses and regulatory scrutiny after the firm defaulted on equity derivative bets, putting investors on edge about who else might be exposed.

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Comments

  • Amb1tion
    2021-03-30
    Amb1tion
    nice
  • Chounz
    2021-03-30
    Chounz
    Kindly like my comment 
  • pigley
    2021-03-30
    pigley
    hmmm
  • Jon000
    2021-03-30
    Jon000
    Like n comment
  • Nagoken
    2021-03-30
    Nagoken
    Great news
  • azotest
    2021-03-30
    azotest
    Like and comment
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