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Apr 27, 2021 Nomura Holdings Inc. will book ¥313 billion ($2.9 billion) in losses tied to the collapse of Archegos Capital Management, as Japan’s biggest brokerage vows to strengthen its risk management in the wake of the debacle. Of the total, ¥245.7 billion ($2.3 billion) was logged in the three months ended March 31, leading to a quarterly net loss of ¥155.4 billion its biggest since 2009. The remaining ¥62 billion will be booked in the current fiscal year, the Tokyo-based company said in a presentation Tuesday. Nomura has exited over 97% of its positions with a U.S. client that Bloomberg understands to be Bill Hwang’s family office.

In nomuraTakumi kitamuraKentaro okudaChristopher willcoxMorgan stanleyFinancial group incMoody investors serviceCredit suisse groupNomura holdings incJpmorgan chase coMitsubishi ufjNikko securities incNomura holdingsArchegos capital managementBill hwangSuisse group