2/2 Reuters. FILE PHOTO: Logo of Nomura Holdings is pictured in Tokyo 2/2
By Takashi Umekawa
TOKYO (Reuters) - Japan's Nomura has set up an internal team to investigate a possible $2 billion loss relating to Archegos Capital Management, two people familiar with the matter said.
Archegos, a New York investment fund run by ex-Tiger Asia manager Bill Hwang, collapsed last month when its debt-laden bets on media companies including ViacomCBS (NASDAQ:VIAC) unravelled.
Nomura, Credit Suisse (SIX:CSGN) and other global banks, which acted as brokers for Archegos, scrambled to sell the shares they held as collateral and unwind the trades.