Hyundai Motor Securities carried out a reorganization of its bond business office. The aim is to boost profitability by diversifying the existing work structure—previously concentrated on bond brokerage—into brokerage and proprietary trading.
According to the financial investment industry on the 18th, Hyundai Motor Securities reorganized the organization within its bond business office into two teams: the Multi-Solution Team in charge of bond brokerage and the Bond Trading Team responsible for bond proprietary trading.
The previous bond business office consisted of four teams—Bond Finance Team 1, Bond Finance Team 2, Capital Markets Team, and Multi-Solution Team—and had been operated with a focus on bond brokerage.
Through this reorganization, Hyundai Motor Securities streamlined some staff who had handled bond brokerage while consolidating the dispersed bond proprietary trading functions under the bond business office.
Accordingly, the bond proprietary trading staff scattered across the four teams were consolidated into the Bond Trading Team, and the bond brokerage staff had their contracts terminated.
A Hyundai Motor Securities official said, "This reorganization of the bond business office is a restructuring to enhance the bond business office's revenue," adding, "We improved efficiency by diversifying work that was skewed toward bond brokerage into brokerage and proprietary trading, and by centralizing brokerage operations."