Published by KoreaTimes – 25th February 2015
Shinhan Financial Group has named Deputy President and Chief Financial Officer Min Jung-kee as chief of its asset management unit, the group said Wednesday.
Min’s two-year term as chief executive of Shinhan BNP Paribas Asset Management will begin in late March if the firm’s board of directors approves his appointment, the statement said.
“CFO Min’s wide range of experience and expertise in the financial industry will help the asset-management joint venture lead through uncertainties,” Shinhan Financial said in a statement.
Min, 57, was largely involved in overseas operations and global finance for nearly two decades at Shinhan Bank. He has served as deputy president and CFO since August 2012 at the country’s biggest financial holding company by assets and net profit, according to a Shinhan spokesman.
Min studied German language and literature at Seoul National University (SNU) and international trade at the SNU graduate school in the early 1980s, the statement said.
Shinhan Financial owns a 65 percent stake in Shinhan BNP Paribas Asset Management, with the remaining 35 percent held by BNP Paribas, a Paris-based financial group.
Meanwhile, Shinhan BNP Paribas Asset Management CEO Cho Yong-byoung was selected on Tuesday as president of the group’s flagship Shinhan Bank to fill the void created by previous President Suh Jin-won’s illness.
Early this month, Suh expressed his intention to step down in late March when his three-year term was scheduled to end. Cho’s appointment will be up for approval at a board of directors’ meeting following a shareholders’ meeting next month. If approved, Cho will serve as president for two years, Shinhan said.
Starting this year, the term has been shortened to two years from three, it said.
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