The securities trading arm of one of South Korea's largest financial services groups is looking at about 20 European investment banks with an eye to buying a stake or acquisition in a deal worth up to about $1.8bn (€1.2bn), as firms across the region look to investment opportunities in Europe and the US.

An official at Woori Investment & Securities is quoted by Reuters: "As we are aiming to boost investment banking, we are analysing the business structures of target companies.