Nicknamed the six million dollar man, thanks to his surname and his reputation for being one of the most highly paid analysts in Korea, Steve Marvin has joined Deutsche Bank as its new head of research.
It is a key hire for Deutsche's equities boss, Ed Peter, who has built an increasingly respected franchise from not very much two years ago. Marvin is a name that ought to boost Deutsche's Korean platform overnight and as big name hires go, this one is on a par with Peter's hiring of David Scott as the firm's strategist.
Marvin, a Korean speaker, was historically the number one ranked analyst in Korea - a position he first earned while working for Jardine Fleming. He then went to Ssanyong Securities (now Good Morning) and set up its research team from scratch.
When the Asian financial crisis hit Korea, Marvin left Seoul for Tokyo where he became a partner in hedge fund, Penta.
His decision to take the Deutsche job reflects not only his optimism on Korea, but also his desire to return to sellside research.
