SINGAPORE, March 29 (Reuters) - A potential $2 billion loss flagged by Japan’s Nomura Holdings Inc on Monday is related to the unwinding of trades placed by Archegos Capital Management, Bloomberg News reported, citing people familiar with the matter.
One of the people said that New-York based Archegos, founded by Bill Hwang, was a prime brokerage client at Nomura, according to Bloomberg. Nomura has said the losses arise from transactions with a U.S. client but has not disclosed their identity.
A person who answered the phone at Archegos on Sunday hung up without comment.
Reporting by Tom Westbrook; Editing by Christian Schmollinger