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Nomura’s Prime Brokerage Pullback Deals Blow to Global Goals Bloomberg 7 mins ago Steven Arons, Bei Hu and Takashi Nakamichi © Bloomberg Nomura Holdings Headquarters As It's Loss Warning Is Said To Be Tied To Archegos Selloff (Bloomberg) -- Just weeks after Nomura Holdings Inc. vowed to push ahead with its global ambitions, unswayed by deep losses from the implosion of Archegos Capital Management, the firm is pulling the plug on a chunk of its hedge fund business. Popular Searches Japan’s biggest brokerage will stop offering cash prime-brokerage services in the U.S. a...

Dougal Brech, global head of the prime-brokerage division that caters to hedge funds, has been suspended along with U.S. prime head Joshua Kurek and co-head of global equities Michael Caperonis, people familiar with the matter said. Douglas Lyons, global head of credit risk, will stay at the Tokyo-based firm but will be replaced by Patrick McGarry, said the people, who requested anonymity as the details aren’t public. Nomura is among several global banks shaken by transactions with Archegos, an obscure investment firm set up to manage the fortune of trader Bill Hwang. Japan’s biggest br...

by Tyler Durden Tuesday, Apr 27, 2021 - 03:30 PM After reporting its biggest quarterly loss since 2009 (driven by losses tied to the implosion of Archegos that were greater than the $2 billion the Japanese bank first reported a month ago) Nomura has decided to suspend or shuffle around several senior employees, including its head of risk. More details on the suspensions and firings can be found below courtesy of Bloomberg: Dougal Brech, global head of the prime-brokerage division that caters to hedge funds, has been suspended along with U.S. prime head Joshua Kurek and co-head of global equit...

Nomura Sticks to Global Goals After $2.9 Billion Archegos Hit Bloomberg 2 hrs ago Takashi Nakamichi and Takako Taniguchi (Bloomberg) -- Nomura Holdings Inc. is pushing ahead with its global ambitions, unswayed by a $2.9 billion hit from the implosion of Archegos Capital Management. Popular Searches Chief Executive Officer Kentaro Okuda -- in a surprise appearance at Tuesday’s earnings briefing -- signaled he will persist with plans to build a presence in the U.S. even after the Archegos meltdown led to the Japanese firm’s biggest quarterly loss since 2009. “There is no...

Nomura said the losses from the implosion of Archegos Capital will be nearly $ 2.9 billion, as people close to the Japanese bank have said they have permanently suspended their chief mediation operations. The economic blow to the country’s biggest brokerage Nomura is more than a loss of approximately $ 2 billion initially marked when the mishap caused by the powerful family office appeared in late March. Bill Hwang’s loss of Archegos, which has not been officially named by the nominee and calls him a “U.S. customer,” has pushed the bank to bear the biggest quarterly loss since the 200...