IGIS Asset Management names Seo Seong-yong as securities division head

IGIS Asset Management said Wednesday it has appointed Seo Seong-yong, head of its hedge fund management unit, as the new head of its securities division. He takes office Sunday.

Seo is a multi-asset investment specialist with broad experience in equities and alternative investments. He previously managed equity funds at Mirae Asset Global Investments' equity management division and handled equities, real assets, private equity funds and venture capital investments at the National Pension Service's fund management division. At Koramco Asset Management, he built a multi-asset management team that ran funds combining listed real estate investment trusts and other real estate-related assets.

After joining IGIS Asset Management in 2022, Seo led the multi-asset investment unit — now the hedge fund management unit — and expanded its investment scope to include shares, bonds, public offering shares, mezzanine instruments and unlisted equities. Cumulative fund assets under management grew to 630 billion won ($476 million) from 2022 through the end of the first half of this year.

Seo has outlined "Multi-Strategy Absolute Return" as the investment strategy for the securities division. He plans to restructure the marketable and non-marketable asset strategies previously run by the hedge fund unit into two core pillars and concentrate the firm's investment capabilities around them.

The division will also expand its marketing staff to strengthen outreach to institutional investors, corporate clients and family offices. The bond investment unit will continue to provide investment solutions using domestic and overseas fixed-income assets.

"On the principle of reading market trends with humility, I will enhance the securities division's competitiveness through a multi-strategy approach that spans marketable assets and private deals," Seo said. "We will manage volatility while pursuing absolute returns, and establish ourselves as an asset manager trusted by institutional clients."

In April, former new business development head Jo Gap-ju returned as chief executive of IGIS Asset Management following a board vote — his first time in the role in five years.