Daiwa Capital Markets announced yesterday the appointment of Joseph Park as managing director and head of corporate finance in Seoul.
Park took up his new job yesterday and will be responsible for developing Daiwa’s equity capital markets and M&A businesses in Korea. He reports to Kazuyoshi Mizukoshi, head of investment banking for Asia-Pacific.
“[Park] is an excellent addition to our team and an integral part of our strategy to strengthen our Asian business to become one of the top 10 investment banks in Asia ex‐Japan. Korea is an important market for us and this hire shows we are committed to investing in the right people to achieve our aims, both in this market and in Asia in general,” said Mizukoshi.
Park joins Daiwa from Woori Investment & Securities where he was managing director and head of the advisory group specialising in M&A transactions. Before Woori, he worked as an investment banker at Goldman Sachs, and earlier in his career at Morgan Stanley and The Boston Consulting Group.
“[He] brings excellent transaction experience in South Korea,” added Sumio Otsuka, senior managing director and co-head of global investment banking.
Daiwa revealed plans to grow its Asian operations in November 2009. Since then, it has made several key appointments and hires to its global markets and investment banking divisions. These include Jonathan Orders as head of ECM for Asia ex-Japan, and Thomas Jackamo as head of the financial institutions group for the same region.
It now employs around 100 investment bankers throughout Asia.
The Japanese bank is also expanding its fixed-income and currencies business in Korea, and in July it hired Jung Insuk as head of fixed income.
Daiwa Capital Markets is the wholly owned investment banking arm of Daiwa Securities Group, and has over 4,000 employees and a network of more than 20 offices in Asia, the Middle East, Europe, North America and Oceania.
