Archegos Trial Dredges Up $2 Trillion Family Office Dispute
- Fund’s collapse led to billions of dollars in bank losses
- Two big attempts to limit single family office risks failed
Ralph Hamers, the former chief executive officer of UBS Group AG, looked sullen as he explained how the bank lost hundreds of millions of dollars after the implosion of investment firm Archegos Capital Management.
“Clearly what we will do going forward is demand even more transparency with our clients,” Hamers told a CNBC interviewer in April 2021, when he still headed the Swiss bank. “Is there more regulation that we can get, in order to ensure we have complete oversight over the positions our clients have?”