Minor hiccup: A Nomura logo is pictured at the Japanese company’s office in Manhattan, New York. The brokerage’s shares slumped as much as 16% yesterday, the biggest intraday decline since November 2011. — Reuters
TOKYO: Nomura Holdings Inc’s warning of a “significant” potential loss from an unnamed US client is related to the unwinding of trades by Bill Hwang’s Archegos Capital Management, according to people familiar with the matter.
The family office founded by Hwang, a former Tiger Management trader, was one of Nomura’s prime brokerage clients, one of the people said, without providing further details. They asked not to be identified discussing private information.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
