The Overly Competent Junior Employee

“How’s the wrap account doing these days?”

One week later, in the CEO’s office at Yuseong Investment Securities.

“It’s exactly the same as the market situation.”

Seo Yong-won, Part Leader of Wrap Account Team 1, was having a conversation with CEO Sim Ju-won. Sim Ju-won often called in part leaders from each team to hear their opinions.

“I suppose so. With the market situation being poor, how could the wrap account be any better?”

“However, due to the recent strength of the U.S. dollar that we entered as a hedging measure, our clients’ portfolios are getting a bit of breathing room.”

“You bought dollars?”

“Yes. We were planning to hold cash until we saw the bottom, in line with market conditions, but a report came in suggesting that the won-dollar exchange rate might go up to 1,450 won, so we entered, and it seems quite good.”

Sim Ju-won nodded at Seo Yong-won’s report. Recently, asset management companies worldwide had been increasing their cash holdings.

Naturally, they couldn’t make new investments in a market that hadn’t shown its bottom yet.

“Was it the macro team’s analysis?”

Sim Ju-won asked cautiously, and Seo Yong-won nodded.

“It was Yoon Dokyung-ssi’s analysis.”

Sim Ju-won had asked indirectly, wondering if Dokyung, whom he had sent down, was doing well, and when Seo Yong-won mentioned Dokyung, he smiled with satisfaction.

“Is he doing well?”

“He’s doing very well. Honestly, I was skeptical at first.”

“That’s only natural. It’s understandable to be skeptical when told to have a former PB do macro analysis.”

“But looking at it now, I really want to thank you. Recently, we were about to invest in UK bonds…”

Seo Yong-won explained the recent events in the team, and Sim Ju-won listened with a surprised expression.

“So, in the end, you didn’t do it?”

“Yes. And the market situation flowed subtly according to Yoon Dokyung-ssi’s outlook.”

At Seo Yong-won’s words, Sim Ju-won curled up the corners of his mouth.

“That fellow isn’t special. You should know this too.”

“…”

“Anyone can make such predictions if they see that data. But why couldn’t others say it?”

“I suppose it’s because they tried to look only at the bright side of the market?”

During economic booms, all investment situations are bet on the assumption that the economy will continue to be good.

In fact, many institutions, including investment banks, often leverage assuming the economy will be better rather than assuming risks.

Sim Ju-won smiled and shook his head at Seo Yong-won’s answer.

“For that fellow, the client comes first.”

Seo Yong-won focused quietly on Sim Ju-won’s words.

“Isn’t it interesting? We might just be mere employees hired by this company. We could just think about preserving our positions and be done with it.”

The financial sector wasn’t special. Like other companies, most employees prioritized doing just enough to not fall behind others.

That wasn’t wrong either.

No matter how much employers emphasized a sense of ownership, it was impossible to develop such a sense for a company that wasn’t really one’s own.

“And in this industry, if you think your salary will secure your future, you might do anything for that salary.”

Seo Yong-won nodded at Sim Ju-won’s words.

“But that fellow is different. Whatever he does, the client comes first. I heard he was like this even when he was working at the counter.”

But Dokyung seemed quite peculiar.

It wasn’t for the company, nor was it for himself.

He simply made choices with the client as the top priority.

“Isn’t it interesting? Of course, there have been such people before, but it’s the first time I’ve seen someone who says and acts like the client is the first priority.”

“Hearing you say that reminds me of something Yoon Dokyung-ssi said recently. He said we can’t gamble with clients’ money.”

“Hahaha, that’s it. This guy is getting paid by the company but goes around saying the client comes before the company. But you know what?”

Sim Ju-won continued speaking, looking quietly at Seo Yong-won.

“Strangely, it doesn’t feel bad.”

At those words, Seo Yong-won chuckled.

“I don’t know if it’s because I feel relieved that there’s someone doing what I can’t do. Strangely, it doesn’t feel bad.”

“That’s true, but… in the end, the actions Yoon Dokyung-ssi took for the clients always turned out to be beneficial for the company. And for Yoon Dokyung-ssi himself too.”

“I think you’re right. For sure, if he had been someone who only talked prettily on the surface, it would have been annoying.”

If he had been someone who just pretended to care for clients while looking out for his own interests, there would have been no need to talk about him like this.

But Dokyung was always sincere, and in that sense, it didn’t feel bad.

“Well, anyway, I feel like I’m praising that fellow too much in front of you.”

“Not at all. He’s a guy who deserves more than just praise.”

“More than just praise, you say?”

Sensing a deeper meaning in Seo Yong-won’s words, Sim Ju-won asked back, and Seo Yong-won smiled as he began to speak.

“Since you took office as CEO, our wrap account has undergone many changes.”

After taking office as CEO, Sim Ju-won had started strengthening the personal asset management division. He was providing generous support to the extent that various employees, from PBs at branch offices to the wrap account team at headquarters, could feel its effectiveness.

“Others say I’m strengthening the personal asset management division because I came from there, but how has it turned out? Aren’t all securities firms strengthening personal asset management now?”

Seo Yong-won nodded at Sim Ju-won’s words, which had a hint of justification.

That was true, after all.

“I’m afraid I have one more shameful request to make.”

“My, this is scary.”

“I was hoping you could provide more personnel for the team.”

At Seo Yong-won’s words, Sim Ju-won furrowed his brow, pondered for a moment, and then spoke.

“How many people are in Wrap Account Team 1 now?”

“With one vacancy, we currently have 12 people.”

“Is that not enough?”

“From a manager’s perspective, it’s not enough. And through this recent incident, we’ve learned how important macro is for wrap accounts too. It’s too late to wait for materials coming from the research center.”

Of course, there was a research center within the securities firm that provided macro and company analysis, but they had their own work to do.

Analysts had their own companies to cover, and even if we suddenly requested materials, they couldn’t just hand them over.

“Currently, we have a two-manager system, but I’d like to elevate the macro team and create a three-manager system.”

“So you want to strengthen the macro, is that it?”

“That’s right. Yoon Dokyung-ssi said something like this to me.”

As Seo Yong-won mentioned Dokyung, Sim Ju-won focused on his words with interest.

“He said the era where we didn’t need to explain, see, or hear has come to an end.”

Hearing the words from Seo Yong-won’s mouth, Sim Ju-won let out a long sigh.

“…He’s right.”

“We won’t be obsessed with data, but I think we need to pay more attention to it.”

“Alright, I understand what you’re saying. I’ll speak strongly about this at the board meeting, so let’s see how it goes during the second half’s new employee recruitment.”

“Yes, I understand.”

Seo Yong-won smiled with satisfaction at Sim Ju-won’s approval.

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“Yoon Dokyung-ssi.”

Meanwhile, Dokyung was leaving work after finishing his tasks when he heard a familiar voice calling him from behind and turned around.

“Oh… Branch Manager!”

Dokyung approached the person who had called him with a bright smile.

“Or should I call you Director now?”

The person chuckled at Dokyung’s words.

“Have you been well?”

“Yes, I meant to visit you as soon as I was assigned to headquarters, but there were many big events.”

The person Dokyung was happily conversing with was Ryu Tae-hwa, the former Seongnam branch manager and current head of the Strategic Business Department under the WM Headquarters.

For Dokyung, he was perhaps a figure who had presented a turning point in his life.

“If it’s an excuse, given that it’s Yoon Dokyung-ssi, I should believe that you really did face big events.”

Ryu Tae-hwa spoke as if feeling a bit hurt, and Dokyung bowed his head.

“I’m really sorry. Have you been well?”

“Of course. Shall we have a cup of coffee for a moment?”

Ryu Tae-hwa pointed to the cafe on the first floor of the headquarters, and Dokyung nodded.

The two sat down in the cafe and began to talk in earnest while drinking coffee.

“I’ve been receiving reports about your achievements at the Leaders Center every time.”

Perhaps because the Strategic Business Department was in charge of managing the Leaders Center, Ryu Tae-hwa seemed to know well about Dokyung’s accomplishments.

“And I also know that many clients have been missing you since you changed positions.”

In fact, in the group chat where Dokyung gave market briefings every morning, crying emoji comments were posted whenever Dokyung wrote something.

“And the managers are having a really hard time too. Well, when the predecessor was such an outstanding person…”

At Ryu Tae-hwa’s words, Dokyung sheepishly rubbed his nose.

“I was able to choose to transfer easily because I trusted the members of Leaders Center Team 3.”

“That’s good. Actually, while they say it’s tough, they’re all doing well. It must be because they’ve changed in a good direction thanks to you.”

“No, originally…”

Ryu Tae-hwa smiled at Dokyung’s demeanor.

“How’s life at headquarters? Is it bearable?”

“Yes. It’s interesting. Although the income is less, I feel like I’m closer to what I really wanted to do.”

Life as a PB was good too. But working at headquarters, Dokyung felt like he understood what it meant to enjoy work.

“I think maybe this kind of work at headquarters suits my nature better.”

“Yoon Dokyung-ssi is really strange in many ways. Who enjoys their work?”

Even as Ryu Tae-hwa said this, his face was full of smiles.

“You’ll do well. If you’re the Dokyung-ssi I know… you might soon become a world-class fund manager, as you once told me.”

At Ryu Tae-hwa’s words, Dokyung’s heart started to race.

Whenever talk of the ‘dream’ he had long buried came up, his heart always fluttered.

“I’ll work hard.”

“Good. If you have any difficulties, come and find me. I’m now in a position where I can give strength to Yoon Dokyung-ssi.”

Dokyung looked surprised at Ryu Tae-hwa’s words.

“When I was about to give up everything, I resolved to get up again after seeing Yoon Dokyung-ssi. It was also the first time I realized that seeing someone work hard can inspire such feelings.”

“…”

“This is my repayment for that time. When you feel like you have no allies in this vast headquarters building, come and find me. Because I believe in you, Yoon Dokyung-ssi.”

Dokyung smiled and nodded at Ryu Tae-hwa’s words.

“If such a time comes, I’ll come and see you, Director.”

Ryu Tae-hwa also smiled brightly, seeming satisfied with Dokyung’s response.

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“The UK situation seems to be stabilizing more and more…”

A month later, Dokyung was looking at various news and indicators through the Bloomberg terminal in one corner of the office.

The market was reacting strongly to the resignation of the finance minister, one of the prime minister and finance minister who had initially brought about the policy ‘mistake’ in the UK, seeing it as the departure of an ‘anti-market figure’.

“It seems like the bond vigilantes have retreated too.”

It felt as if the bond vigilantes, who had been selling their bonds and warning the UK government, had withdrawn from the UK government bond market.

“It seems like nothing will change unless the prime minister resigns, but well. Good news is good news. CS is still ongoing.”

Just because the UK problem ended didn’t mean everything was over.

The problem with CS, the European giant investment bank, was still ongoing.

Of course, CS executives were saying their situation was fine, but the market atmosphere didn’t believe it.

“The CDS premium has risen four times.”

CDS (Credit Default Swap) was a derivative product created to allow buying and selling of the default risk itself for companies or countries.

To put it simply, it was a product where an investor holding CS’s corporate bonds could pay a fee to another bank and recover the bonds if CS went bankrupt.

In other words, it was a product created so that B, who lent money to A, could receive money from C even if A went bankrupt and couldn’t repay, by paying a certain fee to C.

“The market is betting everything on CS defaulting.”

Dokyung felt that there were still many headache-inducing problems ahead. After noting down the relevant materials and returning to his seat, Dokyung began to write his report in earnest.

Ding ding-

At that moment, a message arrival notification rang from the company messenger, and Dokyung checked the arrived message.

[Lee Yeon-ji: Dokyung-ssi! Congratulations on your promotion!]

The person who sent the message was Assistant Manager Lee Yeon-ji from the Research Center, and Dokyung tilted his head at the message content.

[Me: Promotion?]

[Lee Yeon-ji: Haven’t you seen the company intranet? Quick, take a look! The promotion personnel announcement is out!]

At those words, Dokyung quickly accessed the intranet and checked the personnel announcement, and found that an enormous number of promotions had been announced ahead of the second half’s new recruitment.

[Hong Se-jun – Promoted to Manager, Wrap Account Team 1]

[Yoon Dokyung – Promoted to Assistant Manager, Wrap Account Team 1]

Confirming his name, Dokyung smiled brightly and clenched his fist.