Nomura has made moves to its top executives after the Archegos collapse resulted in the largest quarterly loss since the 2008 global financial crisis.
Nomura has suspended a group of senior executives at the investment bank that includes global head of the prime brokerage Dougal Brech, U.S. prime head Joshua Kurek and co-head of global equities Michael Caperonis, according to a «Bloomberg» report citing unnamed sources.
The Japanese bank also replaced global head of credit risk Douglas Lyon will be replaced by Patrick McGarry but will remain with the Japanese bank.
U.S. Plans Undeterred
Despite the major setback which resulted in a quarterly loss of 155.4 billion yen ($1.4 billion), the bank said at this week’s earnings briefing that it remains committed to building a presence in the U.S., adding that there was no major change to its wholesale business strategy.
Nomura also said that it has hired external lawyers to conduct a «comprehensive, impartial review».
Separately, the Japanese lender recently announced the hire of former J.P. Morgan Asset Management chief executive Christopher Wilcox as its co-CEO and president of its U.S. operations, effective May 3.
