ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Archegos Capital's charismatic Bill Hwang unsettles NY bourse

Nomura and Credit Suisse take hit from Korean American fund manager's misstep

TOKYO -- Jitters have spread on the New York stock market since last week due to a series of block trades by investment banks worth tens of billions of dollars after Bill Hwang's Archegos Capital Management defaulted on margin calls. Facts about the trades came to light on Monday.

Major American, European and Japanese investment banks -- Goldman Sachs, Morgan Stanley, Credit Suisse, Deutsche Bank and Nomura Holdings -- face huge losses after having extended billions of dollars worth of credit to Archegos and Hwang, a charismatic Korean American fund manager who was found to have committed insider trading in 2012.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more