Nomura: wholesale dragged down by Archegos, IWM unit goes live

Equities performance slowed due to a decline in trading volume and lower volatility. This adds up to a total blow of nearly US$2.9 billion arising from Archegos Capital Management, which it referred to as a ‘US client’ in its financial statements. Of the latest hit, JPY56.1 billion was booked as a trading loss in equities revenues and the remaining JPY9.3 billion yen was booked as loan loss provisions in expenses. We see plenty of ongoing factors that could encourage investors to