As it makes forays into the South American market, Mirae Asset Securities has recently been in the limelight again with the opening of a subsidiary in Brazil, the first among local brokerages.
The entry into Latin American means more than just expansion into another overseas market. It means that Mirae has completed its first phase of a globalization drive aimed to become a “local major” in emerging markets.
Mirae Asset Securities has made inroads into six foreign countries since it launched its first subsidiary in Hong Kong in January 2007. The securities arm of Mirae Asset Financial Group entered Vietnam in December 2007, and landed in China in August 2008.
Not satisfied with only the Asian markets, the company opened its U.K. office in October 2008, and started to provide securities services in the U.S. from February 2009. Last month, it finally joined the Brazilian market opening a subsidiary in Sao Paulo as the central bank of Brazil approved the establishment on Aug. 26.
It is the first time for a local securities firm to advance to the Latin American nation. Mirae kicked off the subsidiary with capital worth 80 million of the Brazilian real (53.9 billion won). The subsidiary will serve Brazilian customers by providing brokerage, custody, financial advisory, investment banking and dealing services.
“Brazil has a population of 200 million and is 37 times the size of the Korean peninsula. It is becoming an essential nation in emerging markets nowadays,” Choi Hyun-man, vice president of Mirae Asset Financial said at the launch ceremony of the Brazil subsidiary held in Sao Paulo last month.
Since its establishment in 1997, Mirae Asset Financial has become one of the largest equity investors in emerging markets. The main businesses in Mirae Asset Financial include asset management, investment banking, wealth management, life insurance and venture capital.
Mirae Asset Securities is an independent, customer-oriented financial entity established in 1999. It specializes in designing a variety of tailored products for its clients, backed by a team of qualified professionals.
Following its motto of “building on principles,” the company has grown rapidly over the years, while honing its expertise in wealth management, investment banking, brokerage and corporate pensions.
As a leading emerging market expert in the world, the securities subsidiary of Mirae Asset Financial offers valuable investment opportunities including brokerage, wealth management and investments banking for both individuals and institutions.
Established in July 2007, the firm’s Beijing office marked the entrance of Mirae Asset Financial to the rising investment opportunities in China. The company’s strategic locations in Beijing and Shanghai have paved the way to the land of highly potential growth possibilities.
It aims to leverage its expertise and offer superior services to its global investors with concentration in the areas of research and marketing. It is currently in the process of forming strategic alliances and joint ventures with Chinese financial companies to expand its products and services for the clients.
Mirae Asset Securities Hong Kong was established in January 2006 with the vision of becoming the leading Asia Pacific financial services company. Mirae Asset’s professional and experienced Hong Kong-based researchers, analysts, traders and financial advisors fully cover the Asia market.
Its customer-focused approach translates into a broad range of investment services including brokerage, investment banking services and wealth management services for both individuals and institutions.
Mirae Asset Securities U.K. was established in October 2008. It offers dedicated brokerage services to qualified investors seeking access to the markets in the Asian region. The company says it offers a truly independent and comprehensive broking and execution service to institutional investors who need to be in touch with the fast changing global markets of today and tomorrow. It provides access to major global markets including London and New York as well as emerging markets.
Mirae Asset Securities U.S. offers comprehensive execution services to qualified investors who need to be in touch with the fast changing markets of the world. It provides access to major global markets including New York, London, Hong Kong, Vietnam and Seoul.
Its dedicated professionals engage clients with in-depth market knowledge and up-to-date market information. It houses a team of high caliber professionals that are committed to providing exemplary services to sophisticated and demanding clients.
Its one-stop service model offers investors with seamless services encompassing complete integration from execution to settlement.