Credit Suisse and Nomura lose Korea equity derivative heads
Low volatility on the Korea market and greater competition from local securities houses are hitting global banks' profits in Seoul
A fall in equity derivatives revenues due to a weak local equity market and a decline in hedging activity by domestic securities firms has caused a number of senior exits from global banks' Korea equity derivatives units in recent weeks.
Dealers have downsized or shut their equity derivatives businesses in Korea after a fall in trading volumes. Harold Moon, head of equity derivatives at Nomura in Seoul, was fired two weeks ago while his equivalent at Credit Suisse, Taehwan Kim, resigned around
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