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Magazine + Sections + Fashion + Art & Design + Travel + Food + Culture Search [ ][Search] Share * Facebook * Twitter * LinkedIn * Copy Link * Markets Credit Suisse Takes $4.7 Billion Hit on Archegos Meltdown Swiss banking giant slashes dividend and shuffles top executives [im-320882] Credit Suisse said its investment banking and risk chiefs would leave the bank. Photo: arnd wiegmann/Reuters By Margot Patrick Close Margot Patrick * Biography * @margotpatrick * margot.patrick@wsj.com Updated April 6, 2021 3:59 pm ET Credit Suisse Group AG reported a $4.7 billion hit from the meltdown of Archegos Capital Management, slashed its dividend and said its investment banking and risk chiefs would leave the bank. The Swiss lender has been the hardest hit by the collapse late last month of Archegos, a U.S. family investment firm, suffering a major loss in its unit that services hedge funds. The Archegos crisis emerged just weeks after Greensill Capital, a U.K. finance firm that was deeply entangled with Credit Suisse , filed for insolvency and left the bank on the hook for losses. Chief Executive Thomas Gottstein will stay in his job, but Chief Risk Officer Lara Warner is leaving the bank Tuesday and head of investment banking Brian Chin will depart at the end of April. The double blow of Archegos and Greensill represents the bank's biggest test in years and comes at a time of leadership transition. Mr. Gottstein took over a year ago after his predecessor, Tidjane Thiam, was forced out after the bank was caught spying on a recently departed executive. Later this month, the bank's longtime chairman, Urs Rohner, is set to retire. He will be replaced with an outsider, Lloyds Banking Group PLC Chief Executive Antonio Horta-Osorio. 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