Toss Securities names Richard Hagen as CEO of TSAF

South Korea's Toss Securities said on Tuesday that it has appointed Richard J. Hagen as CEO of its US subsidiary, TSA Financial LLC (TSAF), and plans to start obtaining a US broker-dealer license by the end of 2024.

In August, the company established Toss Securities Americas Inc. and its subsidiary TSAF to strengthen its presence in the US market.

TSAF, a broker-dealer unit, aims to enhance Toss Securities' global stock trading capabilities and diversify overseas revenue streams after obtaining regulatory approval.

Hagen, the US financial investment veteran with over three decades of experience, was named CEO of TSAF.

He previously led retail investment operations as CEO of PayPal Invest and co-founded Ally Invest, where he managed its digital brokerage business.

Write to Han-Gyeol Seon at always@hankyung.com