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Archegos fallout: global banks could lose over US$6b
Published Thu, Apr 1, 2021 · 05:50 AM
London
MAJOR investment banks around the world face multi-billion-dollar losses after a family office, Archegos Capital Management, failed to meet margin calls on sliding speculative stock and derivative positions.
Archegos is run by Bill Hwang, a former hedge fund manager who was fined for alleged fraud in 2012.
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