Hyundai Securities joins hands with Oppenheimer

Korea's Hyundai Securities and Oppenheimer & Company sign an MOU to jointly offer a suite of services, including corporate finance and wealth management.

Korea’s Hyundai Securities has entered into an agreement with Wall Street boutique investment bank Oppenheimer & Company to cooperate on business opportunities in investment banking and securities, both in South Korea and the US.

The two firms have inked a memorandum of understanding (MOU) to form a non-exclusive alliance. The alliance will cover a number of areas, including corporate finance (advisory, public and private offerings), M&A, institutional sales of both fixed-income and equity products, research and wealth management.

Oppenheimer & Co, a wholly owned subsidiary of Oppenheimer Holdings, has been offering services and advice to high-net-worth investors, individuals, businesses and institutions for more than 125 years. In Asia, Oppenheimer & Co operates through an affiliate, Oppenheimer Investments Asia, which is headed by Steve Bernstein.

“We believe that our strong financial services business in the United States, coupled with Hyundai's strong domestic presence in [South] Korea, large business network and comprehensive focus on investment banking and wealth management, will lead to significant opportunities for both firms," Albert Lowenthal, chief executive officer of Oppenheimer & Co, said in a written statement.  

Hyundai Securities was established in 1962 and now offers comprehensive wealth management, brokerage and corporate finance services, as well as research. It currently has a network of 135 branch offices across South Korea, three overseas subsidiaries, one overseas branch office and one overseas office.

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