TOKYO – Japanese financial group Nomura Holdings on Tuesday confirmed losses of $2.3 billion for fiscal 2020-2021 linked to the sudden liquidation of holdings by US hedge fund Archegos.
Shockwaves rippled through global financial markets and institutions last month when the fund sold at least $20 billion in stocks as it sought to cover obligations to its lenders.
The debacle hit firms including Credit Suisse, Morgan Stanley and several leading Japanese banks.
Nomura had already estimated it faced losses of around $2 billion linked to its exposure.
It has not directly named Archegos, saying only that the losses were linked to “transactions with a US client”.
In a statement issued alongside its earnings Tuesday,…
