Reappointment of Kim Seong-hyun and Lee Hong-gu as Current CEOs of KB Securities IB and WM Divisions
Park Chan-yong Recommended as Candidate for KB Data CEO, Currently KB Kookmin Bank Executive Vice President of Planning and Coordination
Daechu Committee States "Leadership Needed to Overcome Market Saturation and Growth Stagnation with New Growth Strategy"
On the 6th, KB Financial Group held the Subsidiary CEO Candidate Recommendation Committee (Daechu Committee) and recommended CEO candidates for four subsidiaries, including KB Securities. Kim Jae-kwan, Executive Vice President and Chief Financial Officer (CFO), was newly recommended as CEO of KB Card, and Jung Moon-chul, Executive Vice President and Head of the Personal Customer Group at KB Kookmin Bank, was newly recommended as CEO of KB Life. Meanwhile, Kim Sung-hyun and Lee Hong-gu were re-nominated as CEOs of KB Securities, reflecting a decision aimed at pursuing both change and stability.
The Daechu Committee stated that the main direction for the KB Financial Group subsidiary CEO appointments is to emphasize stable change amid an uncertain financial environment, focusing on ▲ the reappointment of proven capable CEOs ▲ fostering next-generation leaders through innovation and generational change ▲ and selecting individuals who understand and can promote the group’s management philosophy.
Accordingly, in the case of KB Securities, the committee prioritized continuity in management expertise by re-nominating the current CEOs for both the IB and WM divisions. The committee explained that Kim Sung-hyun, CEO of KB Securities’ IB division, has maintained an overwhelming market position in corporate finance sectors such as the DCM division, which has held the top spot for 13 consecutive years, demonstrating solid profit-generating capabilities. He is evaluated to have achieved rapid stabilization and performance improvement not only in IB but also in the S&T division through meticulous leadership and management skills.
Additionally, Lee Hong-gu, CEO of KB Securities’ WM division, despite being in his first year, is judged to have demonstrated excellent management performance by swiftly stabilizing the organization and strengthening sales capabilities, resulting in steep growth in WM assets and profits. He is also recognized for possessing the expertise and leadership to accelerate both the expansion and qualitative growth of the WM business based on diverse field experience.
For the CEOs of KB Kookmin Card and KB Life Insurance, young leaders with broad experience across various organizational functions were appointed. The new candidates are individuals with expertise in products and services related to small and medium-sized enterprises and personal customers, respectively, and are considered suitable for supporting small business owners and low-income social groups amid the recent challenging economic conditions.
Kim Jae-kwan, recommended as CEO candidate for KB Kookmin Card, currently serves as Executive Vice President and CFO of KB Financial Group. He has held key roles within the group, including Head of the SME Customer Department at KB Kookmin Bank, Head of SME Planning, Head of Corporate Finance Solutions, and Executive Vice President of the Management Planning Group. He is judged to have rich experience in core group functions. He is also evaluated to possess management capabilities that can lead the company’s leap to become the “No. 1 card company” through swift “execution power” driving the transition to an agile and dynamic organization.
Jung Moon-chul, recommended as CEO candidate for KB Life Insurance, is a management expert with broad understanding of key businesses, having served in KB Financial Group’s Management Department, Head of Financial Planning at KB Kookmin Bank, Head of Strategy, Head of Public Relations and Branding at KB Financial Group, Executive Director of the Management Planning Group at KB Kookmin Bank, and Executive Director of the SME Customer Group. He is expected to lead the company’s transformation into an insurance company supporting customers throughout their lives by promoting the expansion of diverse customer-tailored product portfolios and business diversification through organizational leadership that can unite members’ capabilities for balanced growth in insurance and investment profits.
Next, Park Chan-yong, recommended as CEO candidate for KB Data Systems, is judged to possess management acumen and execution ability to “accelerate management structure innovation,” including business structure reorganization. He is recognized for strategic communication skills that can garner support for the company’s change and innovation direction from various stakeholders, and for flexible collaboration that can maximize group IT synergy.
The Daechu Committee stated, “This is a time when proven management capabilities and change and innovation leadership are needed to overcome market saturation and growth stagnation and to pursue new growth strategies.” It added, “Based on KB Financial Group’s pursuit of ‘trust and coexistence,’ we will do our best to become KB Financial Group that can grow and advance together with customers, shareholders, and various stakeholders.”
The recommended candidates will be finalized through the final review and recommendation by the respective subsidiary’s CEO Candidate Recommendation Committee within this month and confirmed at the shareholders’ meeting. The term of office for new CEOs is two years, and for reappointed CEOs, one year.
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