J.P. Morgan Chase has hired Michael B.W. Cho, head of interest-rate derivatives trading at Standard Chartered in Seoul, in a new position with responsibility for Korean won-denominated bonds and credit products sales and trading. B.J. Kim, J.P. Morgan's head of Korean credit market sales in Seoul, to whom Cho reports, said he is not looking to make further hires. J.P. Morgan set up a Korean credit-related business earlier this year (DW, 3/19).
At StanChart, Cho's responsibilities will be assumed by Hong Kim, interest-rate derivatives trader, while the firm looks to recruit a replacement, said Y.C. Park, head of global markets in Seoul. Kim said Cho had been heading up the interest-rate desk for a few months, and previously handled fixed-income trading.