Nomura takes $2.3bn hit with UBS forecasting a total $861m loss after collapse of hedge fund

Bank losses linked to the collapse of Archegos Capital Management have topped $10bn, after Nomura and UBS became the latest global banks to reveal the true impact of the hedge fund’s failure on their finances.

Some of the world’s largest investment banks have been left nursing billions of pounds worth of losses as a result of their exposure to Archegos, the personal hedge fund of the New York-based billionaire Bill Hwang.

Global bank losses due to Archegos collapse