Biggest Japan Bank Joins Nomura in Bracing for Archegos Loss
- MUFG warned of $300 million loss at European securities unit
- Loss won’t have material impact on firm’s business capability
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Mitsubishi UFJ Financial Group Inc. joined a growing list of global financial firms to take a hit from the forced unwinding of bets by Bill Hwang’s Archegos Capital Management in one of the biggest margin calls of all time.
Japan’s largest bank warned of a potential $300 million loss related to a U.S. client, a hit that’s linked to Archegos, a person familiar with the matter said, asking not to be identified discussing a matter that isn’t public.