ABN Amro and Woori form fixed-income alliance
Dutch bank ABN Amro signed an agreement on June 26 to provide Korean firm Woori Investment & Securities with fixed-income derivatives expertise, including intellectual capital, product capability and IT systems.
Woori will employ three specialists recommended by ABN Amro. The partnership will enable it to amalgamate all the necessary resources to provide retail, institutional and corporate clients with product expertise, said Woori chief executive Jong Soo Park.
“This alliance will be meaningful, as for the first time a local securities company will be able to offer multi-product and fixed-income derivatives solutions in Korea," said Michael Chae, head of global markets for ABN Amro in Korea.
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