HALFWAY THROUGH A meeting in the Seoul headquarters of the Samsung group, Euromoney asks SJ Hwang about the competition in the Asian equities brokerage business. It is perhaps the first time in the meeting that the fast-talking Hwang, head of global equities at Samsung Securities, pauses for breath.
“Well, first up you have the 11 entrenched global players,” he begins, “the bulge-bracket banks that I don’t need to name plus CLSA, Macquarie and I would include Nomura.
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