Finance

Senate Banking Committee Chair Brown targets banks ties to Archegos

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Senator Sherrod Brown (D-OH), speaks at the 2019 National Action Network National Convention in New York, April 5, 2019.

Lucas Jackson | Reuters

Sen. Sherrod Brown, chairman of the powerful Senate Banking Committee, is taking aim at three banking giants’ ties to Archegos Capital after the fund’s recent losses blitzed the market.

In letters to leaders at Goldman Sachs, Nomura Holding America and Credit Suisse, the Ohio Democrat indicates he’s looking for details on their relationship to Archegos. The letters, first reviewed by CNBC, are dated Wednesday. CNBC received a letter from Brown to Morgan Stanley after publication of this story.

Archegos, a family investment office run by former Tiger…



Source cnbc.com

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