Nomura sets up team to investigate Archegos-related loss: sources

Nomura sets up team to investigate Archegos-related loss: sources

Nomura sets up team to investigate Archegos-related loss: sources

FILE PHOTO: A logo of Nomura Holdings is pictured in Tokyo, Japan, December 1, 2015. REUTERS/Toru Hanai/File Photo

TOKYO (Reuters) – Japan’s Nomura Holdings Inc has set up an internal team to investigate the bank’s possible $2 billion loss related to U.S. investment firm Archegos Capital Management, two people familiar with the matter said on Thursday.

The move by Japan’s biggest brokerage and investment bank comes as the financial hit has placed the firm’s risk management in question and attracted scrutiny from the country’s regulators.

Nomura plans to disclose details related to the loss, which it disclosed last month, later this month, possibly on April 27th, one of the sources said.

The sources declined to be named as they were not authorised to speak to the media.

A spokesman for Nomura declined to comment.

Reporting by Takashi Umekawa; Editing by Sumeet Chatterjee and David Goodman