Hyundai Motor Securities said on the 1st it carried out a restructuring to boost competitiveness in its investment banking (IB) business by splitting the organization into the structured finance division and the corporate finance division.
With this move, the former IB division changed its name to the structured finance division. It will be responsible for project financing (PF) and alternative investments going forward.
Under the standalone corporate finance division, the corporate finance 1 office and corporate finance 2 office were each placed. For the corporate finance 1 office, the debt capital markets (DCM) 1 team and DCM 2 team were grouped to handle bond underwriting and brokerage.
In the corporate finance 2 office, the coverage 1 team and coverage 2 team were established to handle sales activities for corporations. A corporate finance support team was also newly formed directly under the division.
Hyundai Motor Securities plans to build up DCM capabilities centered on the corporate finance division and diversify its business portfolio into the equity capital markets (ECM), covering everything from ordinary corporate bonds to initial public offerings (IPO) and mergers and acquisitions (M&A).