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Big banks lose millions in dealings with bond trader with a bad record

Tuesday, January 19, 2016 - 05:50

London

BNP PARIBAS and Nomura Holdings are among five banks nursing losses of about £120 million (S$247.4 million) on the demise of an obscure bond-trading firm called Invexstar Capital Management. They shouldn't be surprised.

Alberto Statti, 49, Invexstar's manager and sole