Nomura Holdings Inc.’s Kentaro Okuda was paid ¥320.4 million ($2.9 million) during his first year as chief executive officer that concluded with the implosion of Archegos Capital Management.
Okuda also received a ¥16 million housing allowance, according to an annual securities filing on Friday. That compares with the ¥422 million Okuda’s predecessor Koji Nagai was paid during his final year as CEO. Nagai, now the chairman of Japan’s largest brokerage, received ¥192.2 million in pay last year, according to the filing.
Nomura was among global banks shaken by the implosion in late March of Archegos, a little known U.S. investment firm set up to manage the fortune of trader Bill Hwang. The Japanese company suffered a $2.9 billion loss due to the saga, trailing only Credit Suisse Group AG. In April, the brokerage logged a fourth-quarter net loss of ¥155.4 billion, its biggest since the global financial crisis.