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

By Reuters3 days ago

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By Takashi Umekawa

TOKYO, April 8 (Reuters) - Japan's Nomura 8604.T 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 VIAC.O unravelled.

Nomura, Credit Suisse CSGN.S and other global banks, which acted as brokers for Archegos, scrambled to sell the shares they held as collateral and unwind the trades.

The loss incurred by Nomura has thrown Japan's biggest brokerage and investment bank's risk management into question and attracted scrutiny from the country's regulators.

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