The report says that Samsung Securities will use its Hong Kong operations, where it plans to hire up to 52 people by the end of 2009, as a launch pad for its increased regional presence.
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"The company is also in talks with three players to set up a joint venture (JV) in China," a senior executive told Livemint.com.
Samsung Securities announced its intention to set up shop in Hong Kong in August last year, but the plan was put on the backburner as global financial markets went into a tailspin.
"In the past, the gap between the global and Asian players was too wide and we experienced many crisis in the last few years, so we focused on fixing our own problems," said Chun Hyeon Park, president and CEO of Samsung Securities, who was in Hong Kong to formally launch the firm’s operations.
"Now that gap has been reduced and we are well prepared to grow our business. This was also a good chance to recruit well-qualified people in the region," he said.
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By GlobalDataSamsung Securities has hired former Deutsche Bank strategist Colin Bradbury to head research in Hong Kong.
