Nomura Holdings Inc.¡¯s warning of a ¡°significant¡± potential loss from an unnamed U.S. 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.
Nomura said in a statement on Monday that the estimated amount of the claim against the U.S. client was about $2 billion.
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