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At the May meeting attended by young workers from the group's securities subsidiary, Yoon stressed the importance of hotline centers amid growing demand for non-face-to-face services.
It considers the reputational risk to KBFG would be material if KBS were allowed to default because the securities subsidiary is fully owned by and shares the same brand name with KBFG.
A securities subsidiary of JPMorgan Chase is suing the NCUA for breaching a $1.4 billion settlement agreement over toxic residential mortgage-backed securities sold to five corporate credit unions leading to their collapse and billions of dollars in losses.
The bank also plans to establish a securities subsidiary in Frankfurt, Germany, the report noted.
The company's National Securities subsidiary was founded in 1947, while the company was organised in 1999 and is based in New York and Florida.
After the takeover, KGI Securities is expected to merge with GCSC, a securities subsidiary of China Development, next year.
The Fed answer explains in detail that AIG's problems stem from its sale of credit-default swaps on mortgage-backed securities, as well as speculation in MBS by AIG's securities subsidiary that collateralized the investment with reserves held by AIG's life-insurance subsidiaries.
We are a commercial bank, which also has a securities subsidiary, investment banking subsidiary, asset management, life insurance, and we started our international presence from Dubai in 1995 as a small representative office.
"We do not know if Mexican authorities will seek to apply the same type of punishments against the accused," said a report published by Valores Banamex, the securities subsidiary of Grupo Banamex-Citibank.
CSK finalizing talks to make Cosmo Securities subsidiary
PT Panin Sekuritas, securities subsidiary of Bank Panin offered 50% or 80 million of its shares to the public by the end of May, 2000, with a nominal value of Rp 500 and an offering price of Rp 550 per share.
A wholly-owned securities subsidiary Toyota plans to set up later this year is likely to start operations independently but eventually join the holding company, the officials said.
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