Archegos, firm central to Wall St. turmoil, says ‘all plans are being discussed’

Business

Archegos Capital Management, the private investment firm at the center of recent turmoil on Wall Street, said in a statement that “all plans are being discussed as Mr. Hwang and the team determine the best path forward.”

“This is a challenging time for the family office of Archegos Capital Management, our partners and employees,” Karen Kessler, a spokesperson for Archegos Capital, added in the statement.

Losses at Archegos, run by former Tiger Asia hedge fund Bill Hwang, triggered a fire sale of stocks on Friday, a source familiar with the matter has said here.

Nomura and Credit Suisse are facing billions of dollars in losses and regulatory scrutiny after the firm defaulted on equity derivative bets, putting investors on edge about who else might be exposed.