Samsung Securities Yu Jang-hoon, Head of Corporate Finance Division 1, to Resign in February

Kim Byung-chul, Lim Byung-il, and other predecessors' terms 6 months to 1 year
Industry points out "Need for IPO organization stability"

[Asia Economy Reporter Hwang Yoon-joo] Yoo Jang-hoon, Head of Corporate Finance Division 1 in Samsung Securities' IB1 Division, which oversees initial public offering (IPO) operations, will resign at the end of February. Since 2021, heads of Corporate Finance Division 1 at Samsung Securities have consecutively left before completing a one-year term.

According to industry sources on the 2nd, Head Yoo will resign at the end of February. It has been confirmed that he is currently on extended leave to use up his annual leave.

Head Yoo has been in charge of Corporate Finance Division 1 since 2022, following the transfers of Vice Presidents Shin Won-jung and Lim Byung-il at the end of 2021. Before Head Yoo, Vice President Lim Byung-il, who moved to Samsung Electronics, served as the head of IB1 Division and simultaneously held the role of Head of Corporate Finance Division 1. After one year, he left Samsung Securities and transferred to Samsung Electronics. Prior to Vice President Lim, former Head Kim Byung-chul was in charge of Corporate Finance Division 1 but resigned after six months.

During Head Yoo's tenure, Samsung Securities listed seven companies in 2022, including Susan Industry, Stonebridge Ventures, ICH, Noeul, Daemyung Energy, Open Edge Technology, and Laser Cell.

His resignation has led to calls within the investment banking (IB) industry for stabilization of Samsung Securities' IPO organization. An IB official stated, "Samsung Securities' IPO heads have only completed about one year at most over the past three years," adding, "Frequently replacing capable heads after recruiting them negatively affects the training of operational staff."

Meanwhile, it is reported that the company is considering recruiting an industry veteran as Head Yoo's successor.