Subsidiary TSA Financial LLC
Begins Process to Obtain U.S. Broker-Dealer License
Toss Securities announced on the 12th that it has appointed Richard J. Hagen as the local CEO of its subsidiary TSA Financial LLC (hereinafter TSAF) and will begin the process of obtaining a U.S. broker-dealer license within this year.
Richard J. Hagen, the new CEO of TSA Financial LLC, the US subsidiary of Toss Securities. Toss Securities
In August, Toss Securities established its U.S. local subsidiaries, Toss Securities Americas Inc. and its subsidiary TSAF. TSAF is a U.S. broker-dealer business entity, and it is expected to lead the strengthening of Toss Securities' overseas stock business competitiveness and diversification of overseas sales by obtaining approval from U.S. regulatory agencies and acquiring a broker-dealer license.
Hagen, newly appointed as the local CEO of TSAF, is a digital brokerage expert who has led various organizations in the U.S. financial investment industry for over 30 years. He led the retail investment business as CEO of Paypal Invest in the U.S. and served as co-founder and CEO of Ally Invest, overseeing the digital brokerage business.
Kim Kyung-soo, head of Toss Securities Americas, said, "Toss Securities has rapidly grown in the overseas stock retail sector, and the establishment of TSAF is also a cornerstone for expanding global business beyond Korea," adding, "CEO Hagen is the right person who possesses expertise in the online brokerage market and shares Toss Securities' innovative DNA."
Hagen, the new CEO of TSAF, stated, "Toss Securities has been at the forefront of providing innovative services for individual investors, and expanding business globally beyond Korea is a natural progression," and added, "I will work with the Toss Securities team to realize the vision of enabling more customers to enjoy diverse investment opportunities in the global market."
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