Bangkok--Jan 13--UNISBKK
-- Follows Approval from Korean Financial Supervisory Commission --
Lehman Brothers, the global investment bank, said it has received approval from the Korean Financial Supervisory Commission to trade fixed-income and equity over-the-counter (OTC) derivatives for domestic Korean institutions, making it the first foreign Firm to have this comprehensive Korean derivatives license.
Lehman Brothers will offer derivatives products to Korean corporate and
financial institutions. Derivatives are financial risk management instruments which can offer protection against volatility in foreign exchange, interest rate, stock and bond markets.
"This license is another milestone in Lehman Brothers' history in Korea.
The Firm has been a pioneer in the Korean market and with this new development, Lehman Brothers can provide a wider range of products to our Korean customers, and deliver the full resources and capabilities of the Firm to our clients," said Jae Woo Lee, Lehman Brothers' Korea Country Head.
Lehman Brothers, which established its Korea representative office in 1990 and its branch office in 2002, has injected 300 billion won (approximately
US$260 million) to support its Korea OTC operation, further underlying its
commitment to the country.
Lehman Brothers (ticker symbol NYSE: LEH), an innovator in global finance, serves the financial needs of corporations, governments and municipalities, institutional clients, and high-net-worth individuals worldwide. Founded in 1850, Lehman Brothers maintains leadership positions in equity and fixed
income sales, trading and research, investment banking, private equity, asset management and private client services. The Firm is headquartered in New York, London, and Tokyo and operates in a network of offices around the world. For further information about Lehman brothers' services, products, and recruitment opportunities, visit our Web site at www.lehman.com. End.