Park, who has been with Credit Suisse for nine years, most recently as Korea country manager, is widely recognised as one of the most experienced bankers in the Korean market.
In his new role, Park will be responsible for GoldmanÆs securities business in Korea, except for businesses related to Goldman Sachs International Bank. He will take up his new position in June after a few months of gardening leave.
ôCombining SteveÆs leadership, strong product experience and client relationships with our existing Korean team will continue to advance our market platform and better serve our international and domestic securities clients in Korea,ö says J. Michael Evans, chairman of Goldman Sachs Asia.
Park has been based in Seoul and elsewhere in Asia since 1996. He joined Credit Suisse in early 1998 as head of equities at its Seoul branch, responsible for both proprietary trading and sales. He later moved on to become the regional head of the Asia-Pacific index arbitrage group, overseeing the markets in Japan, Hong Kong, Korea and Taiwan.
Most recently, alongside his position as managing director and a country manger of Credit Suisse, he was also branch manager of the Swiss bankÆs securities branch in Seoul, overseeing its securities, asset management and private banking businesses.
Originally opened as a representative office in 1993, GoldmanÆs Seoul office became a branch office in November 1998. The bankÆs securities services in the country comprise global securities services, prime brokerage, securities lending, futures services and financing services.
In June 2006, the US investment bank was granted a local banking license which allows it to provide a greater variety of financial services and products, including foreign exchange and interest rate and related products to its Korean and international clients through Goldman Sachs International Bank.