Credit Suisse trader fired for Archegos mess wins $8M in back pay

Credit Suisse trader fired for Archegos mess wins $8M in back pay

The NewsA trader who was fired from Credit Suisse after the bank lost billions of dollars on the now-infamous collapse of a major client in 2021 won his case Tuesday against his former employer and is owed $8.7 million in back wages.Paul Galietto was among at least nine senior executives who were fired after Credit Suisse lost $5.5 billion from the failure of Archegos Capital Management, the investment firm run by Bill Hwang, who was later convi…

Broker blamed for Archegos losses wins $9M from UBS, Credit Suisse

Paul Reid Galietto's lawyer says he was let go by Credit Suisse in 2021 after the firm tried to unfairly blame him for losses from the collapse of the giant family office Archegos Capital Management.