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Merrill Lynch Gets Korean Derivatives Approval; Hires Two Executives

Merrill Lynch’s Korea office has received a full-scope derivatives license enabling the firm to structure, trade, and sell a complete array of derivative instruments in the Korean market. The firm has hired Yoonkee Cho as a vice president, local currency trading. He was previously at Citibank in Korea where he most recently served as a trader of interest rate options, as well as in exotics and cross-markets.

Merrill Lynch Korea has also appointed Inhwan Oh as director, strategic solutions group. He comes from BNP Paribas in Seoul, where he was a director of special fixed income products, including liability derivatives, asset derivatives and corporate advisory services.

Hyung Ho Choi, head of Merrill Lynch’s operation in Korea, says, “We anticipate substantial growth of our business in Korea as this market strengthens and as transparency and governance continue to improve.”

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