Goldman Sachs announced on the 6th that it has newly appointed Heo Hong as co-head of the institutional sector in Korea. Goldman Sachs explained that it appointed the new head to enhance related services in line with the trend of domestic institutions expanding into overseas stocks, bonds, and alternative investments.
The new head, Heo, will be responsible for investment and advisory services targeting institutional investors in the domestic public and private markets alongside co-head Kim Yi-seul. He will also collaborate with Choi Jae-jun, the co-head of Goldman Sachs in Korea, to assist institutional clients in setting the right investment direction in accordance with changing market conditions.
The new head, Heo, has been responsible for advisory on strategic asset allocation and alternative investment strategies targeting domestic institutional investors in the securities sector of Goldman Sachs. He joined Goldman Sachs in 2015 and plans to work in Seoul moving forward. Heo studied humanities at Seoul National University and has experience serving in the anti-terror unit of the Republic of Korea Navy Special Warfare Brigade (UDT/SEAL).
Goldman Sachs has operated in Korea since opening its representative office in Seoul in 1992 and was upgraded to a full-service branch in 1998. Since then, Goldman Sachs has invested over $4.7 billion in the Korean market. Currently, about 100 employees are working in the Seoul office.