A trio of Korean equity specialists at ABN AMRO in Hong Kong has quit and is reportedly planning to set up a hedge fund in Seoul. Hong Shik Kim, head of Asian equity-linked products, Stephen Kang, head of Korean equity and equity-linked trading and Josef Kang, Asian head of distribution, have left ABN. Market scuttlebutt has it the three will be setting up a Korean equity-focused hedge fund in Seoul, though this could not be confirmed by press time.
Prior to his stint at ABN, Kim ran proprietary trading and derivatives for Good Morning Shinhan Securities and was an equity derivatives marketer at BNP Paribas (DW, 11/25/02).
Hui Yuk Min, spokeswoman at ABN in Hong Kong, said Graeme Booth, head of Asian equity-linked trading in Hong Kong will assume responsibility for Kim's role, Andrew Saxton, equity-linked trader in Hong Kong, has assumed Stephen Kang's responsibilities while John Choi, country head of equities for Korea in Seoul, has assumed part of Josef Kang's responsibilities for Asian cash equity sales while the overall head of distribution role has yet to be determined.