Merrill Lynch to expand derivatives business in South Korea
The new license allows Merrill Lynch to offer institutions, corporations, and private clients, highly innovative structured solutions that are custom-designed to meet local and global market needs.
Inhwan Oh, 37, joins Merrill Lynch Korea as Director, Strategic Solutions Group. He comes to the firm from BNP Paribas Seoul where he was a director of special fixed income products, including liability derivatives, asset derivatives, and corporate advisory services. Prior to that, Mr. Oh was with KPMG-Samjung Accounting Corporation for three years as well as with South Korea’s Financial Supervisory Services (FSS) for five years where he supervised bank risk management. He has a masters of finance as well as a bachelors of business administration from Korea University.
Also joining Merrill Lynch is Yoonkee Cho, 35, who becomes Vice President, Local Currency Trading . He comes to the firm from Citibank Korea where he most recently served as a trader of interest rate options as well as of exotic and cross-markets. Mr. Cho was with Citibank for five years and prior to that worked at Asian Banking Corporation. He has a masters in finance from the London Business School as well as a bachelors in business administration from Korea University.
Hyung Ho Choi, head of Merrill Lynch’s operation in Korea, said, “We are gratified to receive this new license as it underlines the public trust Merrill Lynch has established in Korea.” He added, “We anticipate substantial growth of our business in Korea as this market strengthens and as transparency and governance continue to improve. This expansion of our derivatives business, a product area in which Merrill Lynch is a global leader, will form one critical leg of our solutions-based approach for serving Korean institutions, corporations, fund managers, and high net worth individuals alike.”
Merrill Lynch is one of the world’s leading financial management and advisory companies with offices in 36 countries and total client assets of approximately $1.6 trillion. As an investment bank, it is a leading global underwriter of debt and equity securities and strategic advisor to corporations, governments, institutions, and individuals worldwide. Through Merrill Lynch Investment Managers, the company is one of the world’s largest managers of financial assets. Firmwide, assets under management total $478 billion. For more information on Merrill Lynch, please visit www.ml.com.
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