Shinhan Asset Management Integration Complete, Launch of Large Asset Manager with '75 Trillion KRW in Net Assets'

Shinhan Asset Management executives and employees cheered for the vigorous start of Integrated Asset Management at the launch ceremony.

Shinhan Asset Management, which parted ways with BNP Paribas last January, has transformed into a large-scale comprehensive asset management company with net assets of 75 trillion KRW in just one year by integrating Shinhan Alternative Investment Management. Through this merger, Shinhan Asset Management solidified its position as the 5th largest asset management company in Korea.

On the afternoon of the 3rd, Shinhan Asset Management held an inauguration ceremony for the integrated corporation at its headquarters in Yeouido, Seoul, presenting the vision of "Investment Solutions for a Valuable Tomorrow." This integration completed the transformation of Shinhan Asset Management into a large-scale comprehensive asset management company. At the end of last year, Shinhan Asset Management recruited veteran CEO Jae-min Cho, who has 20 years of experience as a fund manager, as the head of the traditional asset division. This move was to respond swiftly to market changes in the management sector, and CEO Cho plans to take an aggressive approach in the TDF and ETF sectors. Kim Hee-song, who has served as CEO of Shinhan Alternative Investment Management since 2017, will also serve as co-CEO at Shinhan Asset Management, further expanding expertise in alternative asset management.

Shinhan Asset Management ended its joint venture with BNP Paribas last January and became a wholly owned subsidiary of Shinhan Financial Group. Based on the independence in product development and management secured through this, it expanded its product lineup including ESG (Environmental, Social, Governance), Exchange-Traded Funds (ETF), and Target Date Funds (TDF). In the case of TDF, it achieved more than threefold growth last year through a glide path upgrade. For ETFs, it doubled its lineup by listing six new ETFs under the new brand "SOL." Shinhan Asset Management's net profit as of the third quarter last year was 25.5 billion KRW, marking a 38% growth compared to the previous year and recording the highest performance ever.

CEO Cho said, "It is important to develop the capability to sense market changes and respond faster than others," adding, "We will lead growth based on active communication and mutual trust." CEO Kim pledged, "To provide the world's best investment solutions, I will continuously motivate employees and support problem-solving."

Shin Yong-byeong, Chairman of Shinhan Financial Group, stated, "I hope that this integration will serve as an opportunity to grow into a top-tier asset management company that creates a new whirlwind in the capital market and develops into an investment solutions company trusted and loved by all."