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| Bill Hwang |
Sitrick And Company is providing crisis support to Archegos Capital Management, the $10B family investment firm that imploded in mid-March.
The Financial Times called the Archegos bust the biggest financial meltdown since the collapse of Long-Term Capital Management in 1998.
Credit Suisse announced April 6 that it will take a $4.7B charge, slash its dividend and overhaul its investment ranks due to the Archegos disaster.
Founded in 2013 by Bill Hwang, a protege of hedge fund legend Julian Robinson, Archegos borrowed billions to invest in US and Chinese stocks.
A massive margin call dealt a blow to Archegos and triggered a $20B wave of liquidations at a number of Wall Street banks.
The Securities and Exchange Commission has opened a preliminary probe into Hwang’s trading. That routine investigation may or may not result in any charges of wrongdoing.
S&C’s Mike Sitrick and Seth Lubove, former editor at Bloomberg, Forbes and Wall Street Journal, represent Archegos.
Jonathan Halvorson, a veteran of Mondelez, Twitter and GM, is set to take the CMO post at Kenvue as it faces a Texas lawsuit about the about alleged links between its Tylenol and autism.
Cracker Barrel Old Country Store has dumped San Francisco-based Prophet, the creative consultant responsible for its disastrous logo and restaurant refresh.
A cyber incident plays by different rules. And if leaders don’t recognize those differences, their response will falter.
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Cracker Barrel has called in Edelman for crisis work regarding the backlash surrounding its decision to drop the “old timer” leaning on a barrel from its logo.
