CIMB has opened a brokerage and corporate advisory businesses in Seoul, South Korea, after obtaining an equities brokerage licence from the country’s Financial Services Commission.
John Choi, the branch manager and the head of equities, and Sean Cho, the head of investment banking will lead a staff of 39 people, providing stock brokerage, research and corporate advisory services to both domestic and international clients.
CIMB, Malaysia’s second-biggest financial services provider, is the first Asean financial institution to be granted its equities brokerage licence through an application process. CIMB Korea currently covers 28 Korean stocks, which represent 35% of Kospi market capitalisation, ranging across...
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