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From Benedicte Gravrand, Geneva:
In light of the recent news that South Korea might allow hedge funds to operate on its soil within the next few years, once the Capital Markets Consolidation Act takes effect (in around 2009), and the many investment bank take-over and launching activities (UBS, JP Morgan Chase, Goldman Sachs, ING) in this part of the world, Opalesque asked a few questions about the South Korean market to a well-known expert, Mr. David Bennett, general manager of Seoul-based Daehan Investments & Securities.
Daehan – one of the oldest Korean financial services firms
Daehan Investment & Securities (DI&S) is one of the oldest financial services firms in Korea and, until its acquisition by Hana Bank in mid-2005, had been primarily government owned. In December 2005 Hana Bank and its affiliates were re-structured under the Hana Financial Group, making it one of four such conglomerates in the country. DI&S is currently in the process of selling a 51% stake in its asset management subsidiary, Daehan Investment Trust Management Company (Daehan ITMC), to UBS. In addition, it also is expected soon that DI&S will change its name to Hana Investment & Securities.
David Bennett, Daehan’s hedge fund expert
“As for my role, I was brought to Daehan Securities by a former colleague who hired me to assist with offshore product development. DI&S’ institutional sales department, of which I am a member...................... To view our full article Click here
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