First Internal Candidate to Become Chairman Without Serving as Bank President
Both Nominees Pledge to Create a Respected KB Financial Group
Yang Jong-hee, the current Vice Chairman of KB Financial Group, was selected as the final candidate for the next chairman on the 8th.
The KB Financial Group Chairman Candidate Recommendation Committee (Chairman Committee) conducted in-depth interviews lasting two hours each with Vice Chairman Yang, Kim Byung-ho, Chairman of Vietnam HD Bank, and Heo In, Vice Chairman of KB Financial, and ultimately chose Vice Chairman Yang as the next chairman. Yang is the first KB Financial chairman from within the company who has never served as a bank president.
Born in 1961 in Jeonju, Yang graduated from Jeonju High School and Seoul National University with a degree in Korean history, and completed a master's course at Sogang University Graduate School of Business. He joined Kookmin Bank in 1989 and worked for 20 years in branches and finance-related departments before moving to KB Financial Group in 2008.
Since 2014, Yang has served as Executive Director in charge of group strategy and as Vice President, and is known within the group as a 'financial expert.' During his tenure as an executive in charge of group strategy, he led the acquisition of LIG Insurance. From 2016, he served as CEO of KB Insurance for five years, growing it into a core affiliate of the group and strengthening the group's non-banking sector. After being appointed Vice Chairman in 2021, he took charge of divisions including global, insurance, digital, personal customers, asset management, and small and medium-sized enterprises (SME).
Kim Kyung-ho, Chairman of the Recommendation Committee, stated, "He possesses outstanding expertise in both banking and non-banking sectors accumulated through his service as a key executive in the holding company, bank, and affiliates, as well as high insight and understanding of digital, global, and ESG management. His leadership, characterized by communication, empathy, and leading by example, along with his differentiated strategy for KB Financial’s future, strong execution will, and management philosophy were highly evaluated," explaining the reasons for his selection.
Yang said, "Although I am still a candidate, I feel a heavy sense of responsibility. I will devote myself to making KB Financial the standard of the financial industry respected by the market and society."
Yang will be recommended as a chairman candidate to the board of directors after passing the executive qualification review stipulated by relevant laws and is expected to be appointed chairman at an extraordinary general meeting of shareholders scheduled for November.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
