Nomura Sticks to Global Goals After $2.9 Billion Archegos Hit
- No change to wholesale business strategy, CEO Okuda says
- Taking ‘remedial measures’ and bolstering risk management
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Nomura Holdings Inc. is pushing ahead with its global ambitions, unswayed by a $2.9 billion hit from the implosion of Archegos Capital Management.
Chief Executive Officer Kentaro Okuda -- in a surprise appearance at Tuesday’s earnings briefing -- signaled he will persist with plans to build a presence in the U.S. even after the Archegos meltdown led to the Japanese firm’s biggest quarterly loss since 2009.