London (CNN Business) The collapse last month of US hedge fund Archegos Capital cost Credit Suisse nearly $4.7 billion and two of the bank's top executives their jobs. Credit Suisse remains a formidable institution with a rich history." Credit Suisse CS said that its top investment banker Brian Chin and chief risk officer Lara Warner would both be leaving the bank. Other members of the executive board will not receive bonuses for 2020, and board chairman Urs Rohner will give up 1.5 million Swiss francs ($1.6 million) in compensation. Credit Suisse also said it would slash its dividend and suspend share buybacks.

Source: CNN April 06, 2021 07:48 UTC