After Archegos, Credit Suisse clients tap rivals for clearing
Swiss bank is said to have lost clearing business amid uncertainty over its future
Buy-side firms are shifting clearing business away from Credit Suisse in the aftermath of the Archegos Capital Management blow-up, according to sources at five rival banks.
Clearing banks in the US and Europe tell Risk.net they have picked up business from clients of Credit Suisse in recent weeks. A source at one of the banks says clients began leaving after the Swiss bank told them to find new clearers to handle their business. Others say clients may be turning elsewhere because of
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