Credit Suisse and Nomura lose Korea equity derivative heads

Low volatility on the Korea market and greater competition from local securities houses are hitting global banks' profits in Seoul

Harold Moon: exit from Nomura

A fall in equity derivatives revenues due to a weak local equity market and a decline in hedging activity by domestic securities firms has caused a number of senior exits from global banks' Korea equity derivatives units in recent weeks.

Dealers have downsized or shut their equity derivatives businesses in Korea after a fall in trading volumes. Harold Moon, head of equity derivatives at Nomura in Seoul, was fired two weeks ago while his equivalent at Credit Suisse, Taehwan Kim, resigned around