Yang Jong-hee of KB Financial focusing on nurturing management leaders
‘Next generation leader selected to succeed Lee Jae-geun and Lee Hwan-joo’
Kim Seong-hyun and Lee Hong-gu of KB Securities to be reappointed
Yang Jong-hee, the chairman of KB Financial Group, has carried out appointments focused on ‘generational change’ and ‘expertise’ in the appointment of CEOs for affiliates.
Kim Jae-gwan, the vice president in charge of finance at KB Financial Group, and Jung Moon-cheol, the vice president of the Personal Customer Group at KB Kookmin Bank, have been selected as the next-generation group management leaders to succeed Lee Jae-geun, the president of KB Kookmin Bank, and Lee Hwan-joo, who is appointed as the next president of the bank and president of KB Life.
On the 6th, KB Financial Group held the Representative Director Candidate Recommendation Committee (RC) and recommended candidates for the CEO positions of four subsidiaries whose terms are expiring at the end of this year.
Kim Jae-gwan has been recommended as the candidate for the CEO of KB Kookmin Card. With extensive experience in personal and corporate finance, he has held positions such as head of the SME Customer Department, SME Planning Department, and Corporate Finance Solutions Headquarters at Kookmin Bank. He has managed the group finances as the head of the Strategic Planning Group (CFO) at Kookmin Bank, the largest affiliate of KB Financial, and as CFO at KB Financial Group.
The RC evaluated that he possesses management skills capable of leading the leap to the ‘No.1 card company’ through swift ‘execution power’ that drives a nimble and dynamic transformation of the organization.
Jung Moon-cheol, the vice president of Kookmin Bank, has been recommended as the new CEO candidate of KB Life Insurance, which produced the next Kookmin Bank president. He is considered the ‘brain’ of Kookmin Bank, having graduated from Jeonju High School and Seoul National University. He has extensive experience across management, strategy, public relations, and sales within both the bank and holding company.
Park Chan-yong, the vice president responsible for the planning coordination at Kookmin Bank, has been recommended as the CEO candidate of KB Data System.
For KB Securities, the second-largest affiliate after Kookmin Bank, they have prioritized continuous management expertise by reappointing the current CEOs for both the Investment Banking (IB) and Wealth Management (WM) divisions. Kim Seong-hyun, the CEO of the IB division of KB Securities, has demonstrated strong profitability in corporate finance, maintaining a dominant market position in areas like the DCM sector, which has held the number one spot for 13 consecutive years, thus achieving a fifth-term reappointment.
Lee Hong-gu, the CEO of the WM division of KB Securities and a former executive at Kookmin Bank, achieved the stabilization of the organization and enhancement of sales capacity within his first year, demonstrating excellent management performance with rapid growth in WM assets and revenue. His management skill and leadership are highlighted as they can accelerate both quantitative growth and qualitative enhancement of the WM business leveraging his varied field experience.
The recommended candidates will undergo final evaluation and recommendation by the respective subsidiary’s Representative Director Candidate Recommendation Committee within this month, and will be confirmed at the shareholders’ meeting. The term for newly appointed CEOs is two years, while for reappointed CEOs, it is one year.