Korea’s Samsung Securities has poached Alex Choi from Goldman Sachs to head its newly established capital markets division in Seoul. Choi was previously executive director for liabilities management at Goldman Sachs in Hong Kong.Choi will bolster Samsung Securities’ development of its derivatives capabilities following the introduction of a new regulatory regime in July that opened up the over-the-counter derivatives market to securities firms.
Samsung Securities has already hired 40 staff in proprietary trading, capital markets and derivatives as part of its response to the rule changes, said Choi. He added that the firm received a licence to trade derivatives last week.
“There are already a number of professionals who will structure and trade derivatives products, but we will continue to recruit experienced marketers, structurers, and traders both from foreign and local houses,” said Choi.
Although Samsung Securities will primarily focus on equity and fixed-income derivatives, it plans to expand its product range into foreign exchange derivatives in the near future, said Choi.
Choi will report directly to YK Hwang, chief executive of Samsung Securities.
More on People
Lourdes Centeno and Elisabeth Roegele join EU financial regulator
UK office adds Bhavick Patel while Alain Kunz joins in Switzerland
Deutsche's Fan exits; Credit Suisse investment banking co-head retires; Sweden's prudential regulator hires new director general
He has served as the bank's co-head since 2012
Sign up for Risk.net email alerts
Sanjay Sharma talks about risk transparency and how his book helps achieve it.
A five-minute formula from Alexander Denev that takes you through a simple probabilistic graphical model and explains how and why these are used. Find out more about the ground-breaking book, Probabilistic...
Industry leader Vincent Kaminski discusses the challenges faced by energy markets and his new book, Managing Energy Price Risk, 4th Edition.
Momtchil Pojarliev talks about his book, The Role of Currency in Institutional Portolios, currency investing and the potential role of currencies in institutional portfolios.
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.