Standard Chartered has rehired Hong Sik Kim, interest rate trader at Merrill Lynch in Seoul, for a similar role. Kim joined Merrill last year from StanChart to help set up an onshore fixed income trading desk (DW, 11/19). Kim, confirming the move, said he now reports to Y.C. Park, head of global markets in Seoul and Michael Bass, global head of interest rate derivatives in Singapore. Park did not return messages and Kim declined further comment on his return to the firm.
Merrill's nascent onshore derivatives business in Korea has been hit with a number of departures in recent months, including Joonkee Hong former head of Korea debt markets and Stephen Shin, derivatives marketer, who have joined Lehman Brothers (DW, 6/27). Mark Tsang, a spokesman at Merrill, did not respond to messages.
