Wonseok Chae has joined Nomura to head corporate sales and financing in Korea, the Japanese bank announced in a statement yesterday. He took up his position in Seoul earlier this week as part of Nomura’s corporate solutions and financing group (CSFG) in Asia ex-Japan.
Chae was hired from Goldman Sachs, where he was head of corporate sales for Korea; previously he was chief of Deutsche Bank’s corporate coverage group in the country.
Nomura is expanding its existing corporate client coverage platform in the region. Its CSFG platform combines the firm’s corporate coverage resources across corporate sales, risk solutions and private financing to provide clients in the region with structured solutions for their varied financing requirements, as well as event-driven and tactical risk management strategies.
Since November 2011, the CSFG has grown in size, and now employs a team of 30 people covering corporate clients across Asia ex-Japan under the leadership of Daniel Mamadou, head of the CSFG.
Chae reports directly to Mamadou, and also has reporting lines to Djamal Attamimi, head of the financing group for Asia ex-Japan, and to Chris Chan, head of corporate solutions for Asia ex-Japan. Both Attamimi and Chan are based in Singapore.
Mamadou, Attamimi and Chan all joined Nomura from Deutsche Bank late last year. They were managing directors in the German bank’s capital markets and treasury solutions division, where they had broad client coverage roles, selling a wide range of products that included rates, foreign exchange, commodities and financing solutions. Nomura’s CSFG performs a similar function.
Mamadou reports jointly to Jai Rajpal, head of fixed income for Asia ex-Japan, and Patrick Schmitz-Morkramer, head of investment banking for Asia ex-Japan, as well as to Philippe Dufornier, the head of global finance.
It seems that for the moment at least, Chae’s appointment brings an end to Nomura’s recent recruitment drive in CSFG.
“[Chae] brings a wealth of experience to this role with over 20 years of experience in the Korean markets. His hire completes the build-out of our CSFG team; Korea is a key area of focus in our coverage strategy and we will ensure that our clients benefit from one of the most comprehensive financing and risk management solution offerings in the region,” said Mamadou.
