Business
Credit Suisse Ignored Warnings Before Archegos and Greensill Imploded – The Wall Street Journal
Bank is examining how, after years of beefing up compliance and risk, it pushed into risky trades that it couldn’t easily exit
Credit Suisse Group AGs double-barreled financial crisis shares a common theme: a bank that looked the other way when warning signs argued for pulling back on lucrative corners of its business.
The Swiss bank with a big Wall Street presence was caught off guard starting in late February when $10 billion in complicated investment funds it ran with financing firm Greensill Capital unraveled, despite years of internal warnings about the relationship.
Then it lent more than other banks on big, concentrated…
