All material subject to strictly enforced copyright laws. © 2022 Euromoney Institutional Investor PLC group
Derivatives

KDB Seeks Treasurer; Eyes Credit Mart

The London branch of the Korea Development Bank plans to hire a treasurer, who will explore using credit derivatives to buy protection and take exposure. David Afcroft, head of securities trading in London, said part of the new treasurer's responsibility will be to examine credit derivatives. "A new treasurer, with experience, would presumably look to take on exposure as he sees fit, not necessarily massive exposure, but [it] would increase our opportunities." The firm does not plan to make markets in credit derivatives from its London office. The firm's Seoul headquarters already uses credit derivatives.

The hire will replace Bill Farrant who left a year ago, according to Afcroft. Since his departure existing staffers have carried out his responsibilities, but KDB decided to step up its search for a head two weeks ago. The firm has boosted its efforts to recruit because it wants to have someone in place for the new year, Afcroft explained.

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree