US-based Neuberger Berman Group has entered into a cooperation agreement with Samsung Securities and its Korea-based affiliate Samsung Asset Management to expand investment offerings in the Republic of Korea.
As part of the agreement, Neuberger Berman will work with Samsung Securities and Samsung Asset Management to offer a wide range of investments to the Korean market as well as co-develop new strategies in the future.
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The deal will enable Neuberger Berman to boost its presence in Korea in addition to allowing Samsung to expand its global investment line-up.
The memorandum of understanding (MOU) was signed at the Samsung Asset Management headquarters in Seoul between Andy Komaroff, COO of Neuberger Berman, Youngwoan Chung, head of the strategic business division at Samsung Securities, and Young June Park, head of the marketing division at Samsung Asset Management.
Chung said: "With this new partnership, we are able to secure a broader range of global products to create a diversified client portfolio. Going forward, we will proactively develop differentiated new products combining Neuberger Berman’s resources and Samsung’s investment ideas."
Young June Park said: "We expect that this agreement will allow for a meaningful and continuous exchange of expertise between Samsung and Neuberger Berman on areas such as portfolio management, market intelligence, product development and others."
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By GlobalData
