Credit Suisse Lures Back Prime Broker Head to Clean Up Archegos
This content was published on May 7, 2021 - 17:25
May 7, 2021 - 17:25
(Bloomberg) -- Three years after he left in a leadership shakeup, former Credit Suisse Group AG prime broker head Indrajit Bardhan is returning to clean up his old unit in the wake of its multibillion-dollar losses from botched dealings with Archegos Capital Management.
The Swiss bank hired Bardhan as a consultant, according to people with knowledge of the arrangement, who asked not to be identified because the matter is private. He was among a number of high-profile executives to exit in 2018. He relinquished his role as global head of prime services to Paul Galietto, who later rose to head of equities and then left last month after the bank posted $5.5 billion in losses tied to Archegos.