Morgan Stanley Burned by $911 Million of Losses on Archegos
(Bloomberg) -- Morgan Stanley became the latest bank to get swept up in the implosion of Archegos Capital Management, reporting $911 million in total losses related to the debacle.
“The current quarter includes a loss of $644 million related to a credit event for a single prime brokerage client, and $267 million of subsequent trading losses through the end of the quarter related to the same event,” Morgan Stanley said Friday in announcing first-quarter earnings.
The loss was tied to Archegos, said a person with knowledge of the matter.
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