Morgan Stanley's (MS.N) Chief Executive Officer James Gorman said Monday that the blow up of the investing firm Archegos Capital Management earlier this year prompted the bank to review all large, single-name margin positions.
“We're comfortable with what we're finding," Gorman said at a conference hosted by his bank.
Archegos was a client of Morgan Stanley and several other banks. It faced the biggest margin call in history in March when the value of one stock that it had accrued a significant position in suddenly lost value.
Our Standards: The Thomson Reuters Trust Principles.
Source: reuters.com
