Deutsche Bank Dodged $4 Billion Archegos Hit With Quick Sale

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Deutsche Bank Dodged $4 Billion Archegos Hit With Quick Sale

Bloomberg2021-04-01

Firm was among those to help Bill Hwang make leveraged bets Hedge fund Mashall Wace was among the buyers in Deutsche sale Deutsche Bank AGsold about $4 billion of holdings seized in the implosion ...

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TriciaChang
·2021-04-01
Wa heng
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Shifeng
·2021-04-01
Hit and run?!
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Showcase
·2021-04-01
Nice
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- johnnyboy:
  nice
  2021-04-01
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Showcase
·2021-04-01
Tell me your opinion about this news...
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- windspring:
  wow
  2021-04-25
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CheeMang
·2021-04-01
Nice ?
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Youji
·2021-04-01
Hahahaha
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HOCK
·2021-04-01
Goood
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Jacjacjacjac
·2021-04-01
Noted
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- Jacjacjacjac:
  ?
  2021-04-01
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Geniex
·2021-04-01
Please help to comment and like
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- Jacjacjacjac:
  ?
  2021-04-01
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TerenceD
·2021-04-01
That’s ??
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At the time, other lenders had already started selling and the pressure was on Deutsche Bank to rid itself of the exposure or potentially get stuck with losses.\nOne of the buyers was Marshall Wace, among Europe’s largest hedge fund managers, according to a person familiar with its role who asked not to be identified discussing a private transaction. The names of the others weren’t immediately available.\nRepresentatives for Deutsche Bank and Marshall Wace declined to comment.\nThe $4 billion sale brings to almost $30 billion the known value of investments that have been liquidated in the messy unwinding of Archegos. The private investment firm, run by former Tiger Management star Bill Hwang, grew into a hidden colossus before collapsing almost overnight in one of the biggest margin calls in history.\nBloomberg has reported that Archegos lenders led byCredit Suisse Group AGtried to broker some kind of standstill agreement with Hwang last week, seeking to untie positions without causing panic. But any agreement was elusive and the trades started to become public on Friday, triggering a selloff.\nRead how one shareholder seesArchegosas CreditSuisse‘wake-up call’\nGoldman Sachs Group Inc., Morgan Stanley andWells Fargo & Co.dumped multibillion-dollar blocks of stock, in some cases through the weekend, to recover capital they loaned to Archegos. Deutsche Bank previously said it was able to de-risk its Archegos exposure and doesn’t expect to incur losses on the trades.\nCredit Suisse, however, expects a hit in the billions of dollars, people with knowledge of the matter have said, whileNomura Holdings Inc.has signaled it may lose as much as $2 billion. Analysts at JPMorgan Chase & Co. estimate the Archegos blowup may cause as much as $10 billion of combined losses for banks.\nShares of Credit Suisse tumbled 21% this week on concern over the size of its potential Archegos hit. 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