“Genesis was not immune to the market drop and the damage to overall sentiment,” the company said in a report on second-quarter market observations. “As we’ve stated publicly, Genesis had loan exposure to Three Arrows Capital. Our parent company DCG assumed the liability related to losses on these loans, leaving our balance sheet healthy so Genesis could continue to be a source of strength for our clients.”
Moro, who joined Genesis in 2015 and took over as CEO the following year, will stay on during the leadership transition, Genesis said. The firm added it also recently hired new executives as chief risk officer, chief compliance officer and chief technology officer.
