Ryu to continue leading Korea Investment & Securities
By Yoon Ja-young
Ryu Sang-ho KIS President and CEO
Korea Investment and Securities (KIS) President and CEO Ryu Sang-ho has been reappointed as the CEO at a shareholders’ meeting. The brokerage house said that the reappointment of Ryu was approved at the meeting held Thursday.
The reappointment is notable when considering that securities companies here tend to switch CEOs frequently ― they serve on average three years. Ryu is nearing 10 years in the post.
Born in Andong, North Gyeongsang Province, Ryu majored in business administration at Yonsei University. After a brief career at a bank, he headed to the United States to get an MBA.
Returning to Korea, he joined Daewoo Securities, working at the London office of the brokerage house. He was called a “legend” there for his performance.
He was scouted by Dongwon Securities, which is now Korea Investment and Securities, in 2002.
In 2007, he was appointed as CEO at the age of 47, the youngest CEO ever in the securities industry. He focused on strengthening wealth management of customers and enhancing investment banking, which enabled Korea Investment and Securities to prosper.
Since his inauguration, the customers’ assets under management soared to 133.5 trillion won from 63.3 trillion won. The firm also topped in the industry for four consecutive years until 2014, in terms of net profit. Its net profit totaled 284.8 billion won last year.
The company is also actively advancing overseas, focusing on Southeast Asia. KIS Vietnam, which it acquired in 2010, is now among the top seven in the industry.
“I appreciate the shareholders and customers for their trust. I will do my best so that Korea Investment and Securities can rise as the top global investment bank in Asia and do its role as an industry leader to upgrade Korea’s capital market,” the CEO said.
Now the biggest challenge Ryu faces is the acquisition of Hyundai Securities. If he succeeds in the deal, KIS will become the industry’s top player in terms of capital and performance.