HSBC has restocked its Korea-based fixed income derivatives desk with several hires from rival Deutsche Bank. J.S. Park, a senior derivatives sales professional at Deutsche Bank in Seoul, has joined as head of derivatives sales. H.J. Woo, derivatives sales, has joined as a derivatives marketer for local currency products, and W.K. Kim, derivatives marketer, will join later this month in a similar position. The hires report to D.J. Lee, treasurer in Seoul.
Lee said the firm hired the staffers to replace professionals who left the bank recently. Park replaces C.S. Yang, head of derivatives sales, who joined Bank of America around year end.
"We recruited them separately," explained Lee, noting that he first brought aboard Park, who then recommended his former colleagues. Park said that he and Lee had previously worked together at Bankers Trust in Seoul.
Additionally, J.K. Rhee, fixed income marketer at Daiwa Securities SMBC in Seoul, has joined HSBC as a derivatives marketer for foreign currency assets.
At Deutsche Bank, the three staffers reported to D.S. Shon, managing director and head of Korea sales in Hong Kong, who declined comment. An official at the firm said that replacement hires are being finalized, declining to elaborate. At Daiwa, Rhee said he reported to Teruaki Ikeda, branch manager in Seoul, who did not respond to messages.
