Nomura Holdings Inc. raised its pretax income target for the financial year ending March 2023 by 14%, with the bulk of growth expected to come from its wholesale division as it moves on from the implosion of Archegos Capital Management. Japan’s biggest brokerage expects pretax ...
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The firm has vowed to strengthen its risk management after being stung by the collapse of the U.S. family office capital management firm.
Analysts have been left to wonder if heads will now roll over the Archegos losses or if the bank will quit certain businesses.
The restrictions include curbing leverage for some clients previously granted exceptions to margin financing limits, one person familiar with the situation said.
The $2 billion claim on a single client risks largely erasing Nomura’s pretax profits for the second half of the year, according to a Jefferies Financial Group report.
Nomura said in a statement on Monday that the estimated amount of the claim against the U.S. client was about $2 billion.
A new team will look beyond stock offerings, corporate debt issuance and other more conventional areas of corporate finance to drive growth.
One of the goals of the review is to prevent firms from exaggerating or misrepresenting the environmental, social or governance benefits of their funds to attract investors.
Bitcoin’s fivefold jump in the past year has come amid a flood of money pumped into the global financial system during the coronavirus pandemic.
The firm’s Japanese banking and brokerage arms selected 10 people in January to serve as specialists in environmental, social and governance factors.