RBS hires SY Choi from Barclays

Choi will head the bankÆs global banking and markets division in South Korea.
The Royal Bank of Scotland (RBS) has appointed SY Choi as head of global banking and markets in South Korea. Choi moves over from Barclays Capital where he was most recently branch and country manager. He was also in charge of the bankÆs financial markets business.

RBS, which currently has only a representative office in South Korea, is trying to establish its first branch in the country. In this newly created position, Choi will be instrumental in making this happen and will also help the bank leverage its franchise in Korea. He will report to Lee Knight, the bankÆs head of fixed income, global banking and markets Asia-Pacific.

The British bankÆs global banking and markets division provides a range of services to its customers, including debt financing, risk management and investment.

ôRBS recognises the importance of South Korea in the Asia-Pacific region; the opportunities it presents to us and the tremendous value that our broad range of products will bring to South Korean clients,ö says Knight. ôWe are committed to further building from our existing platform to pursue a local but distinctive franchise targeting selected investors and corporate clients in South Korea.ö

ôThis is further evidence of our growing footprint in North Asia and RBS is committing appropriate resources to provide clients with a portfolio of debt and risk management products,ö adds John McCormick, chief executive officer of global banking and markets Asia-Pacific. ôWe will provide customised onshore financial solutions to clients across various asset classes leveraging our global origination and distribution capabilities.ö

Choi started his professional finance career with JPMorgan in 1982. Before he joined Barclays, he worked with Credit Suisse as co-head of its South Korean business. He has also spent 10 years working for Daewoo Securities in Seoul, Tokyo and London.
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