The Financial Times reports that Archegos is quietly building a stake in $DB.

The article noted that Bill Hwang, the founder of Archegos, forged relationships with the bank prior to his fund's implosion.

Interestingly, while $NMR $MS and $CS received huge losses from doing business with Archegos, Deutsche Bank "emerged unscathed from the firm’s failure and was even able to hand back some of the collateral it had taken to underpin the loans to the family office."

Hwang has been building a stake in Deutsche Bank since December 2019, mostly consisting of derivatives. While that stake has fluctuated between 1% and 2% of the bank, today, it's estimated that the stake is now only 1% of the bank.

Thoughts?

Source: https://www.ft.com/content/f6125952-fc0b-495a-8b56-826fe0773682