Toss Securities Appoints Richard J. Hagen as CEO of US Subsidiary TSA Financial LLC

November 12, 2024 | 06:30

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Toss Securities, a fintech securities firm with the largest data-driven investment platform in South Korea , has announced the appointment of Richard J. Hagen, Jr (Rich) as Chief Executive Officer (CEO) of its US subsidiary, TSA Financial LLC.

Hagen brings a wealth of experience from financial investment industries from previous roles as CEO of PayPal Invest and co-founder/president of Ally Invest
Hagen to take lead for achieving regulatory approval for TSA Financial LLC's Broker-Dealer operations

SEOUL, South Korea, Nov. 12, 2024 /PRNewswire/ -- Toss Securities, a fintech securities firm with the largest data-driven investment platform in South Korea, has announced the appointment of Richard J. Hagen, Jr (Rich) as Chief Executive Officer (CEO) of its US subsidiary, TSA Financial LLC. With this appointment, TSA Financial LLC will begin regulatory processes to be registered as a Broker-Dealer in the US market starting this year.

Toss Securities Appoints Richard J. Hagen as CEO of US Subsidiary TSA Financial LLC

Earlier in August, Toss Securities had established two US subsidiaries, Toss Securities Americas Inc. and TSA Financial LLC. TSA Financial LLC will be responsible for the company's US Broker-Dealer business operations. Upon receiving regulatory approval and being registered as a Broker-Dealer, TSA Financial LLC will play a pivotal role in strengthening Toss Securities' US securities brokerage business and diversifying revenue streams.

Hagen is a seasoned professional in the financial investment sector, bringing over 30 years of leadership experience in digital financial services to his new role at TSA Financial LLC. Most recently, he served as the CEO of PayPal Invest, where he explored opportunities in the consumer investment sector. Additionally, he co-founded and led Ally Invest (formerly TradeKing, Inc.), focusing on digital investing and investment advisory services.

"We are thrilled to welcome Richard to the Toss Securities team. The formation of TSA Financial LLC represents a pivotal step in expanding Toss Securities' reach into global capital markets. Richard's expertise in online brokerage, combined with his passion for innovation, makes him the perfect fit to lead the team into this exciting new chapter," said Kyungsoo(Peter) Kim, CEO of Toss Securities Americas Inc.

"Toss Securities has been a leader in retail investing innovation in Korea," said Hagen. "Expanding globally is a natural progression in Toss Securities' strategic growth plans, and I look forward to collaborating with our talented team to broaden our reach and deliver even greater value to our clients."

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