Global asset management firm Barings Asset Management announced on the 9th that it will introduce a sole CEO system starting January 1st next year and appoint the current CEO, Jonghak Park, as the new CEO of its Korean subsidiary.
According to Barings Asset Management on the day, the new CEO Park currently serves as a co-CEO overseeing the asset management division at Barings Asset Management Korea. CEO Park expressed, "I feel the heavy responsibility of this important role," adding, "I will closely collaborate with the global team of over 1,800 experts to successfully lead the domestic business and continuously provide high-quality investment services and expertise that meet the evolving needs of our clients."
CEO Park joined Barings Korea (then SEI Asset Korea) in 2000 and was appointed Chief Investment Officer (CIO) in July 2008. As of September, the Korean subsidiary has maintained steady growth, surpassing KRW 15 trillion in assets under management.
Over the past 12 years, co-CEO Insoo Bae, who led the non-asset management business alongside CEO Park, will retire next month. Duncan Robertson, Global Head of Barings Asset Management Asia Pacific, stated, "During his tenure, CEO Bae has significantly contributed to strengthening Barings Asset Management’s investment platform and establishing a solid foundation for future growth."
He added, "CEO Park possesses extensive experience in investment product development and asset management, making him the ideal leader to drive business growth in Korea with his outstanding leadership and rich investment expertise."
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