Nomura completes unwinding of positions related to U.S. client By Reuters

May 18, 2021 admin Stock News 0

© Reuters. FILE PHOTO: Investors stand in front of a screen showing the logo of Nomura Holdings in Tokyo, Japan, in this December 1, 2015 file photo.REUTERS/Toru Hanai

TOKYO (Reuters) -Nomura Holdings Inc said on Tuesday it has completed unwinding of positions related to an unnamed U.S. client, widely understood to be the collapsed investment fund Archegos Capital Management.

Japan’s top brokerage and investment bank also said it will book a loss of about $600 million in the April-June quarter from it, slightly larger than $570 million it predicted for the Archegos related loss in April.

In total, Nomura will incur $2.9 billion in Archegos-related losses, including some $2.3 billion already booked in the January-March quarter.

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