Bank of America in Seoul has hired a five-strong team of fixed income cash and derivatives professionals fromJ.P. Morgan Chase. "We're building our capabilities in a number of markets in Asia," said Gordon Sangster, managing director, head of global markets group Asia at BofA in Hong Kong. "There are a lot of good opportunities in Korea. We were looking to hire a good team and this one was available. They should fit well," he continued.
The team, which starts at BofA next month, is led by Hoon Ho Dang, country manager at J.P. Morgan, who will fill the vacant position of treasurer at BofA. The other hires are Jae Ho Song, interest rate derivatives trader, In Seok Cha, fixed income sales and marketing, Ki Seok Kim, fixed income trading, and Chang Deon Lew, fx trader. None of the five could be reached for comment. Officials at J.P. Morgan declined to comment.