Macquarie granted final licence to open Seoul branch

Macquarie continues to reinforce its presence in Korea after receiving final approval to offer corporate banking services.

Macquarie Bank said yesterday that it has received its final licence to provide corporate banking services in Korea. The Australian bank joins 39 other overseas lenders with branch licences in the country.

The licence was granted by Korea's Financial Services Commission to the newly formed Macquarie Bank Limited Seoul Branch MBLSB, which intends to start operations in the first quarter of next year. The branch will be run by Sang Ook Lee, who is also head of the FICC...

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