Collaboration spans share brokerage, clearing, securities financing and collateral management

Partnership to extend into AI and digital assets to boost global network competitiveness

Samsung Securities President Park Jong-moon and BNY Chief Client Officer Cathinka Wahlstrom, along with representatives from both companies, attend a comprehensive partnership signing at BNY's headquarters in New York. Pictured from left: Park Jong-moon, president of Samsung Securities, and Cathinka Wahlstrom, chief client officer of BNY. [Samsung Securities]
Samsung Securities President Park Jong-moon and BNY Chief Client Officer Cathinka Wahlstrom, along with representatives from both companies, attend a comprehensive partnership signing at BNY's headquarters in New York. Pictured from left: Park Jong-moon, president of Samsung Securities, and Cathinka Wahlstrom, chief client officer of BNY. [Samsung Securities]

Samsung Securities has joined forces with BNY, a global financial group with more than 240 years of history, to strengthen its global financial infrastructure and expand into new business areas.

Samsung Securities signed a comprehensive MOU with BNY at the company's headquarters in New York on Thursday morning (US Eastern time), establishing a framework for cooperation in global asset management and financial solutions.

Under the agreement, the two companies will deepen collaboration across core traditional securities businesses — including share brokerage and clearing — as well as financial infrastructure areas such as securities collateral management and securities financing. They will also broaden the scope of their partnership into new business areas including AI and digital assets, with the aim of expanding their global networks and delivering new financial solutions to customers.

Founded in 1784, BNY holds a leading position in financial infrastructure services including asset custody, clearing and collateral management in global financial markets. As of the end of June, its assets under custody and administration stood at $62.6 trillion, while assets under management reached $2.2 trillion. The firm is recognized as the No. 1 provider in both global custody and clearing and collateral management. BNY counts 94 percent of Fortune 100 companies, 96 percent of the world's top 100 investment managers and 96 percent of the world's top 100 banks by S&P rankings among its customers.

"This MOU will serve as an opportunity to combine Samsung Securities' leadership in the Korean market with BNY's global capabilities," BNY Chief Client Officer Cathinka Wahlstrom said. "By bringing together the strengths of both companies across a wide range of areas, we look forward to collaborating to deliver innovative solutions that meet our clients' evolving needs."

Samsung Securities President Park Jong-moon said the partnership with BNY — a firm that has helped set the standards of global financial markets — extends the company's reach from traditional financial infrastructure innovation into the realm of digital finance. "We will continue to offer domestic investors differentiated financial solutions that meet global standards," he said.

Meanwhile, Park also met with major global partners including Morgan Stanley during his US trip to discuss expanding overseas investment information channels and introducing advanced financial services for domestic institutional and retail investors. Samsung Securities plans to continue strengthening its global platform competitiveness through strategic alliances with leading financial institutions worldwide.


kacew@heraldcorp.com