KB Securities focuses on M&A advisory business Korean securities house sets to hire additional staff and focus on deal sourcing

Translated by Ryu Ho-joung 공개 2019-10-17 08:00:00

이 기사는 2019년 10월 17일 08:00 thebell 에 표출된 기사입니다.

South Korea's KB Securities is doubling down efforts to increase its competitive edge in M&A financial advisory services.

According to investment banking industry sources on October 8, KB Securities plans to increase the size of its M&A financial advisory team. Reportedly, the firm has recently completed an internal process to start recruiting additional staff.

KB Securities' Advisory department is currently led by veteran financial advisory professional Suh Il-young. The department is responsible for both acquisition financing advisory and M&A financial advisory services, respectively led by Yang Hyun-chong and Cho Yong-hwan. Yang is a specialist in acquisition financing who has long worked together with Suh, while Cho, who joined the firm last year, has years of experience in foreign investment banks including ABN AMRO.

"KB Securities' move to focus on M&A advisory business is notable in that most of its domestic peers are concentrating their resources on equity and debt underwriting. Foreign investment banks currently dominate the mega deal market, but there is chance to wedge in if [KB Securities] keeps putting efforts to increase its standing," an industry expert said.

In the first half of the year, KB Securities worked on a cross-border transaction where the securities house provided financial advisory services to the buyer Hyundai Elevator who acquired 11.3 percent stake in Vietnamese HoaBinh Construction Group for 28 billion won. It is also currently advising Korean activist fund KCGI, one of the bidders for Asiana Airlines.

This year KB Securities has a goal to advise at least ten deals - both domestic and cross-border transactions - with an aggregate value exceeding a trillion won. The securities house has advised on several mid-sized Korean firms wanting to enter Southeast Asia markets. Going ahead, it also plans to focus on deal sourcing in the domestic market.

"We decided to recruit more staff as our advisory business has been steadily growing. We will make our efforts to gain more trust from our customers," said Suh.

(By reporter Choi Ik-hwan)

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