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Luke Ellis, CEO of the largest publicly-traded hedge fund, Man Group, has warned that the turmoil following the collapse of Silicon Valley Bank is not over yet. He predicts that a number of banks will collapse in the next two years.
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Ellis made his statements Wednesday during a Bloomberg conference in London when he was asked whether he thinks the banking crisis is over.
“That depends on what you define by a crisis. I think a significant amount of banks will no longer exist in 12 to 24 months,” the hedge fund boss said.