Toss Securities said Tuesday it has named Richard Hagen, a digital finance veteran, as the new CEO of its US subsidiary, TSA Financial.

Under Hagen’s leadership, the company said, TSA Financial will initiate the regulatory process to expand its presence in the US brokerage market.

In August, Toss Securities established two US subsidiaries: Toss Securities Americas and TSA Financial. The latter, in particular, aims to manage the firm’s broker-dealer business operations.

Hagen brings over 30 years of experience in digital financial services. He previously served as CEO of PayPal Invest, leading consumer investment initiatives. Additionally, he co-founded and served as president of Ally Invest, where he developed and scaled digital investing and advisory services.

“We are thrilled to welcome Richard to the Toss Securities team. The formation of TSA Financial LLC marks a major milestone in expanding our footprint in global capital markets,” said Kim Kyung-soo, CEO of Toss Securities Americas. “Richard’s extensive background in online brokerage, paired with his innovative vision, makes him the perfect choice to lead us forward.”

“Toss Securities has set the standard for innovation in retail investing in Korea,” Hagen commented. “Expanding globally aligns naturally with Toss Securities’ strategic goals. I am excited to work alongside our talented team to extend our reach and deliver even greater value to our clients.”