- Ron Fisher looked to depart as the head of SoftBank Group Corp's (OTC:SFTBY) (OTC:SFTBF) Vision Fund and Chair and director of SoftBank Investment Advisors U.S. on April 15, Bloomberg reports.
- Fisher would remain a senior advisor to SoftBank's founder and CEO, Masayoshi Son. Fisher left SoftBank's board in 2021.
- Fisher began working with Son more than two decades ago, helping SoftBank through the Sprint Corp acquisition and WeWork Inc (NYSE:WE) investment.
- SoftBank liquidated almost all of the positions in its abortive internal hedge fund SB Northstar after racking up between $6 billion -$7 billion in losses in the unit behind the notorious "Nasdaq whale" trades, the Financial Times reports.
- SoftBank looked to slow investments across as it sought to raise cash amid falling tech stocks and a regulatory crackdown in China.
- Former Deutsche Bank trader Akshay Naheta who ran the unit, also left SoftBank.
- Northstar's investment manager SB Management held a little over $1 billion in U.S.-listed stocks at the end of 2021, down from more than $17 billion one year earlier, Bloomberg notes.
- SoftBank liquidated most of its European investments around the same time, including a $5 billion bet on Swiss drugmaker Roche Holding AG (OTC:RHHBY).
- Price Action: SFTBY shares traded higher by 3.52% at $23.84 on the last check Monday.
- Photo via Wikimedia Commons
