, Columnist
No More $2.9 Billion Archegos Shocks, Nomura
It could have been worse, but shaken stakeholders deserve a better end to Okuda’s second year than the first.
Better luck this year.
Photographer: Noriko Hayashi/BloombergThis article is for subscribers only.
Kentaro Okuda’s first year as chief executive was going to end in a blaze of glory. Instead, it was charred by last-minute disappointment.
As the Nomura Holdings Inc. boss patches up the $2.3 billion hole already left by the Archegos Capital Management scandal, the good news — if one can call it that — is all relative. Japan’s biggest brokerage got away from the collapse of U.S. family office client Bill Hwang’s toxic trades with less damage than the $5.5 billion hit to Credit Suisse Group AG.