Credit Suisse made $17.5 mn in Archegos fees in year before $5.4 bn losses

Archegos, which was run by former hedge fund manager Bill Hwang, borrowed tens of billions of dollars from at least nine global banks to speculate on volatile stocks. The lenders have collectively lost more than $10 billion in the fallout.

According to a report by the Financial Times, despite extending billions of dollars of credit to Archegos, Credit Suisse made just $17.5 million from the relationship last year. The low level of fees and high risk exposure have caused concern among the board and senior executives, who are investigating the arrangement, according to two people with knowledge of the process.

The bank’s