Nomura, UBS Take Global Banks’ Archegos Hit to Over $10 Billion

April 27, 2021, 8:24 AM

Global banks’ losses related to the collapse of Bill Hwang’s Archegos Capital Management topped $10 billion after Nomura Holdings Inc. and UBS Group AG disclosed more than $3.7 billion of combined hits from the collapse of the U.S. family office.

The Japanese bank booked about 245.7 billion yen ($2.3 billion) of losses in the three months ended March 31, driving the bank to its biggest quarterly loss since 2009, and will take another hit of about 62 billion yen this fiscal year. UBS Group AG, which hadn’t previously signaled any Archegos impact, said it sees a combined hit of ...

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