The collapse of Archegos Capital Management has cost some banks billions and others almost nothing, underscoring a need for all banks to re-examine their risk management protocols. Banks with solid risk control practices came out relatively unscathed while others faced significant losses and reputational damage.

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The Archegos collapse serves as a wake-up call for banks serving family offices in the U.S. to conduct an independent and comprehensive review of their risk management framework to avoid a similar crisis. In Law360, Julie Copeland and Drs. Atanu Saha and Yong Xu assess the cause of the Archegos collapse and the subsequent bank losses. The authors also analyze family offices and their lack of regulatory oversight in the U.S., as well as deficiencies in banks’ risk control practices.

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StoneTurn Partner Jonny Frank and Senior Adviser Christopher Laursen contributed to this article.

 

About the Authors

Julie Copeland

Julie Copeland, a Partner with StoneTurn, brings over 20 years of experience advising the world’s largest financial institutions on anti-money laundering (AML) controls; issues related to economic sanctions, anti-bribery and […]

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Atanu Saha

Atanu Saha, a Partner with StoneTurn, has over 25 years of experience in the application of economics and finance to complex business issues. He has served as an expert witness […]

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Yong Xu

Dr. Yong Xu, a Managing Director with StoneTurn, brings over 20 years of experience in the application of economics, finance, and statistics to complex business issues. He has provided expert […]

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