IBK Securities opens celebrity branch

IBK Securities co. yesterday opened a "celebrity branch" to provide exclusive private banking services to entertainers and sports stars.

An affiliate of the state-run Industrial Bank of Korea, the company launched the "Star Plaza" on the 12th floor of 63 building in Yeouido, Seoul. Company officials said it has a private entrance.

"Celebrity private-banking is already a mature part of the industry in developed nations," said Yoo Jeong-seob, general manager of the branch.

He said that the launch was designed to meet the time-restricted, discreet lifestyles of celebrities, which the bank aims to serve with customer-specific programs.

IBK Securities formed business alliances with a tax advisory agent and a property management firm, both of which have a long list of VIP customers.



Those who expressed interest in the Star Plaza services include singer In Sooni, comedian Lee Kyung-gyu and Kim Kyung-sik, actress Im Yeh-jin, vocalist Kim Dong-gyu, former national baseball team coach Uh Woo-hong, and professional golfer Kang Kyung-nam, according to an IBK Securities spokesman.

The company recruited some of the industry`s most experienced professionals. Yoo, the general manager, previously worked for Salomon Brothers, Citigroup Global Markets and Merrill Lynch before he joined IBK Securities. Other staff include Roh Ju-hong, a private banker who previously worked at Kyobo Life Insurance and Merrill Lynch.

Financial services targeting a specific group of customers have been setting a trend here. Korea Exchange Bank launched "Expat Banking Service" for the first time in the industry in September last year. It includes all-in-English branches across 18 locations.

SC First Bank has a women-only private banking center "Lady Palace" in Seocho-dong, Seoul - a first in the industry. Launched May this year, the center provides networking events on top of exclusive, female-oriented financial products.

(cynthiak@heraldm.com)



By Cynthia J. Kim