Japan's Nomura to investigate Archegos-related loss: sources

By Reuters4 days ago

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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.

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