hallo
Morgan Stanley recorded a $911m hit from the blow-up last month of Archegos, Bill Hwang’s family office, which caused billions of dollars of losses across global investment banks. The setback was a blemish on the Wall Street bank’s record set of first-quarter earnings, which were driven by a surge in dealmaking, trading and income from wealth management. The results statement referred to a $644m credit loss and $267m of trading losses relating to “a single prime brokerage client”, which chief executive James Gorman later confirmed was Archegos. Comments are closed.
|
PurposeMajor markets news headlines which captured the markets. Archives
March 2021
Categories |