Previous Close | 5.30 |
Open | 5.30 |
Bid | 0.00 x 0 |
Ask | 0.00 x 0 |
Day's Range | 5.30 - 5.30 |
52 Week Range | 3.92 - 6.28 |
Volume | 1,000 |
Avg. Volume | 24,477 |
Market Cap | 16.17B |
Beta (5Y Monthly) | 1.02 |
PE Ratio (TTM) | 6.60 |
EPS (TTM) | 0.80 |
Earnings Date | N/A |
Forward Dividend & Yield | 0.19 (3.62%) |
Ex-Dividend Date | Sep 29, 2020 |
1y Target Est | N/A |
(Bloomberg) -- Man Group Plc is concerned that the collapse of Archegos Capital Management may drive some banks to abandon the business of servicing hedge funds, handing the biggest Wall Street firms even more power over their trading clients.The implosion last month of Bill Hwang’s family office is almost sure to winnow the ranks of dealers in prime brokerage and clearing, Sandy Rattray, chief investment officer at the world’s largest publicly listed hedge fund manager, said Tuesday in an interview on Bloomberg Television.“It almost inevitably means that you will get a strengthening of the strong and a weakening of the weak” said Rattray, who oversees $127 billion in assets at Man Group in London. “We certainly don’t like the idea that there are less firms we can deal with.”Already, the two banks that suffered the largest losses from the Archegos blowup, Credit Suisse Group AG and Nomura Holdings Inc., are tightening hedge fund financing. Credit Suisse replaced the co-heads of its prime-brokerage business and forced out several more-senior executives, including the chief risk officer and head of investment banking. Nomura is considering a broader pullback in prime brokerage.Rattray said less competition may result in clients such as Man Group paying more for trading services. As a risk manager, he prefers to spread the firm’s business across a swath of banks in case any one should run into trouble.“You want to have multiple counterparties for everything you do, so having more is always better,” he said. “I don’t think it’s at a dangerous tipping point, but we’ve been in a one-way move for the last 10 to 15 years of just less, especially prime brokers.”Prime brokers provide a wide range of specialty services to hedge funds and family offices, such as stock lending, financial leverage and trade settlement. When Archegos collapsed the week of March 22, a number of banks had to unwind large positions in a handful of stocks.Goldman Sachs Group Inc., Deutsche Bank AG and Wells Fargo & Co. were able to escape the sell-off unscathed. Credit Suisse, Nomura, Morgan Stanley and Mitsubishi UFJ Financial Group Inc. collectively lost almost $8 billion.(Adds comments from Rattray starting in fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Pomerantz LLP is investigating claims on behalf of investors of Nomura Holdings, Inc. ("Nomura" or the "Company") (NYSE: NMR). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
NEW YORK, April 15, 2021 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Nomura Holdings, Inc. (“Nomura” or the “Company”) (NYSE: NMR). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980. The investigation concerns whether Nomura and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joining the class action] On March 29, 2021, Nomura disclosed that it anticipated significant losses in connection with positions linked to Archegos Capital Management (“Archegos”) after Archegos failed to meet margin calls the prior week, forcing the liquidation of more than $20 billion in holdings. That same day, Bloomberg reported that “[m]uch of the leverage used by [Archegos] was provided by banks including Nomura Holdings Inc. and Credit Suisse Group AG through swaps and so-called contracts for difference[.]” On this news, Nomura’s stock price fell $0.93 per share, or 14.07%, to close at $5.68 per share on March 29, 2021. The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com CONTACT:Robert S. WilloughbyPomerantz LLPrswilloughby@pomlaw.com888-476-6529 ext. 7980