Marshall Wace Ties With Credit Suisse Reduced After Archegos
- Move is said to follow reassessment made by both firms
- U.K. hedge fund has been shifting business to U.S. banks
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Hedge fund manager Marshall Wace and Credit Suisse Group AG have scaled back their relationship following the Archegos Capital Management implosion, according to people with knowledge of the matter.
The Archegos saga has prompted Credit Suisse to reduce its risk appetite at its prime brokerage. Marshall Wace, in turn, has become concerned about the risk of dealing with the Swiss bank, said one of the people, who asked not to be identified as the information is private.