DB - Archegos Capital had amassed stake in Deutsche Bank - FT

Archegos Capital Management, Bill Hwang's family office that collapsed about a year ago, had quietly built up a stake in Deutsche Bank (NYSE:DB) after Hwang had met with several of the bank's leaders, the Financial Times reported. While a number of Archegos's prime brokers swallowed a combined $10B in losses after the firm's concentrated, leveraged bets soured, Deutsche Bank (DB) was unscathed and was even able to give back some collateral to Archegos. The family office started to take a stake in Deutsche Bank in 2019 after Hwang met several times with its CEO, Christian Sewing, and at least once with Chairman Paul Achleitner, three people with the matter told the FT. The holding, in the form of derivatives, totaled close to 2% and was held until Archegos unraveled, one person with direct knowledge of the family office told the newspaper. However, people familiar with Deutsche Bank's (DB) position said

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Archegos Capital had amassed stake in Deutsche Bank - FT