KB Financial Group Targets Global IB Market with Jefferies in the US

Yoon Jong-kyu, Chairman of KB Financial Group (right), and Brian Friedman, Chairman of Jefferies Financial Group (left), are posing for a commemorative photo.

[Asia Economy Reporter Bu Aeri] Yoon Jong-kyu, Chairman of KB Financial Group, met with Brian Friedman, Chairman of the global investment bank Jefferies, to discuss strategies for targeting the global investment banking (IB) market.

According to KB Financial on the 24th, they plan to strengthen cooperation in the IB sector to expand assets under management related to overseas alternative investment markets across Jefferies Group’s banking, securities, asset management, and capital divisions.

Chairman Yoon emphasized the expansion of global business areas as one of the future growth engines at the regular shareholders' meeting held in March.

Jefferies is a global major investment bank with over 4,500 employees working in more than 40 locations worldwide, including the US, Europe, and Asia. Based on 2021 revenue, it ranked 8th globally in IB and 7th in the global equity capital markets (ECM). Last year, KB Securities signed a mutual business agreement with Jefferies to collaborate on domestic stock brokerage services and research with overseas institutions.

A KB Financial Group official stated, "In order to proactively respond to the rapidly growing demand from global institutional and individual investors, cooperation with major global IBs is more important than ever," adding, "KB Financial Group and Jefferies Financial Group will explore various cooperation methods to simultaneously enhance customer value and expand global business areas."

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