Lawrence Lee has joined Standard Chartered Securities as head of its equity research business in Korea, said the UK-headquartered firm on Friday. It is a new position and Lee is expected to grow the small research capability with additional hires.
“We will be looking to build the team further, and we intend to provide full market coverage in Korea. As head of equity research, Korea, [Lee] will have leadership and coverage responsibilities for equity research in the market,” said David Murray, global head of equity research.
Lee took up his Seoul-based job on March 2, and reports to Murray. Before joining Standard Chartered, Lee spent five years in charge of Samsung Securities’ technology team, where he received several top-ranking awards from investor polls. Earlier in his career, Lee covered the technology sector at Credit Suisse and, since joining the financial industry in 1992, has also had experience as an analyst for the refining and petrochemicals sectors.
Lee’s appointment suggests that Standard Chartered continues to take its Korean franchise seriously. In May 2010, it hired Kim Yong Kook from Samsung Securities to lead the firm’s cash equities sales trading business in Seoul.
Standard Chartered also made several key hires for its South and Southeast Asia equities platform in October last year.
Standard Chartered is listed on the London, Hong Kong and Mumbai stock exchanges. It operates throughout the world, but earns around 90% of its income and profits in Asia, Africa and the Middle East.
The bank made record profits in 2010, with revenues driven by its wholesale banking business.
