Lehman Brothers has added to its Asian equity research franchise with the hiring of Yoon Yong Chul as head of the Korean research and senior vice president. Based in Seoul, Yoon, who joins the bank from Goldman Sachs, will report to William McGrath, director of ex-Japan Asia research.

In his new role, Yoon will be responsible for covering the Korean financial sector and writing Korean strategy. In his time at Goldman, he also covered the banking sector as well as serving in an advisory role for last year's merger of Kookmin and Housing & Commercial Bank.

"As an experienced top-ranked analyst, we are confident that Mr. Yoon will be effective in driving the direction of Korean equity research as well as actively contributing to the continued expansion of the firm's global research franchise," comments Joseph Amato, global head of equity research at Lehman's.