Bank of Korea to hire reserves management head

Bank of Korea, the central bank of the Republic of Korea, has announced it will recruit a professional from outside to run a newly created reserve management group. This is the first time BoK will hire from the market instead of appointing someone internally to such a senior position. BoK now manages $312 billion in foreign exchange reserves as of the end of August, the largest amount in its history. The “reserve management group” is an upgrade of the central bank’s existing “…