In­vest­ment banker Shin named Tau­rus chief

The Korea Times - - PEOPLE - By Park Hy­ong-ki hy­[email protected]­re­

Shin Jong-ho, a for­mer head of in­vest­ment bank­ing at Meritz Se­cu­ri­ties, has been named the new chief ex­ec­u­tive of Tau­rus In­vest­ment & Se­cu­ri­ties, ac­cord­ing to the bro­ker­age.

His ap­point­ment late last month fol­lows DS Net­works’ ac­qui­si­tion last Oc­to­ber of the small se­cu­ri­ties com­pany from Tau­rus founder Sohn Bok-jo. DS Net­works is a real es­tate de­vel­oper es­tab­lished in 1969.

Sohn launched the bro­ker­age in the fi­nan­cial dis­trict of Yeouido a decade ago, but soon faced dif­fi­cul­ties as the global fi­nan­cial cri­sis erupted in 2008.

Tau­rus was formed un­der the slo­gan of “A Dif­fer­ent To­mor­row,” as the coun­try was pre­par­ing to ease rules sep­a­rat­ing the busi­nesses of stock bro­ker­age, fu­tures and as­set man­age­ment.

It bench­marked Ja­pan’s No­mura Se­cu­ri­ties and fo­cused on stock and bond trad­ing, as well as ex­pand­ing its re­search ca­pa­bil­ity. Tau­rus aimed at set­ting up branches only in strate­gi­cally at­trac­tive lo­ca­tions such as Seoul’s Gang­nam area and Bu­san.

Shin was pre­vi­ously an ad­viser to Meritz Se­cu­ri­ties after head­ing the com­pany’s in­vest­ment bank­ing op­er­a­tions as its man­ag­ing direc­tor from 2010 to 2017.

After he grad­u­ated with a master’s in busi­ness from Konkuk Univer­sity, he started his ca­reer at the state-run Ko­rea De­vel­op­ment Bank in 1981.

Tau­rus said the 56-year-old Shin will of­fi­cially be­gin his term in March 2019.

The Fi­nan­cial Ser­vices Com­mis­sion (FSC) is cur­rently re­view­ing the DS ac­qui­si­tion of Tau­rus be­fore ap­prov­ing the deal. The FSC re­view usu­ally takes about two to three months.

DS Net­works launched DS Net­works As­set Man­age­ment last July, and it is ex­pected to boost Tau­rus’ in­vest­ment bank­ing as it ap­pointed Shin.

Tau­rus founder Sohn told lo­cal press that he sold his com­pany as he had faced lim­i­ta­tions in ex­pand­ing the com­pany amid mar­ket sat­u­ra­tion.

The 67-year-old Sohn started his ca­reer at Dae­woo Se­cu­ri­ties, now Mi­rae As­set Dae­woo, in 1984.

Shin Jong-ho Sohn Bok-jo

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