Northern Trust has opened a representative office in Seoul, South Korea, following regulatory approval from the Financial Services Commission.
“South Korea is one of the world’s fastest-growing economies, and we are pleased to establish a local presence in this important and dynamic market,” says Northern Trust chairman and CEO Frederick H. Waddell. “We see significant opportunity to offer our range of solutions to the sophisticated institutional investors in the country and deepen our relationships in South Korea.”
The office in Seoul will be led by chief representative Byun Jai Yung, who has worked as a consultant for Northern Trust since mid-2013. He also worked at the Bank of Korea for more than 30 years.
Asia-Pacific is the fastest-growing global region for Northern Trust. With a network of eight offices across the region, the Seoul office marks the second representative office established during 2014, following the opening of its Kuala Lumpur office earlier this year.
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