(Bloomberg) -- Brian Kim, the founder of South Korean messaging giant Kakao Corp., has seen his fortune jump by more than $6 billion this year, propelling him to the top of the country’s wealth ranking.Kim is now worth $13.5 billion, according to the Bloomberg Billionaires Index, after Kakao shares rose 90% in 2021 alone. South Korea’s second-richest person, Samsung heir Jay Y. Lee, has a net worth of $12.3 billion.It’s an example of how self-made technology entrepreneurs are climbing the rich l
(Bloomberg) -- Just weeks after Nomura Holdings Inc. vowed to push ahead with its global ambitions, unswayed by deep losses from the implosion of Archegos Capital Management, the firm is pulling the plug on a chunk of its hedge fund business.Japan’s biggest brokerage will stop offering cash prime-brokerage services in the U.S. and Europe, and has given some clients about six months to find a new provider, according to people familiar with the matter, who asked not to be identified discussing the
Nomura Holdings Inc plans to suspend part of its cash-prime brokerage business after sustaining a $2.9 billion hit from the collapse of U.S. investment fund Archegos, a person familiar with the matter said on Wednesday. The move comes after Nomura, Japan's top brokerage and investment bank, reviewed its prime brokerage business and vowed to enhance risk management in the wake of the Archegos loss. Specifically, Nomura plans to stop prime brokerage services using U.S. and European cash stocks, the source said.