Value context and insight. lkm@koreatimes.co.kr
Hana Financial chair seeks second term
5 shortlisted for Hana Financial chairmanship
Hana Financial Group Chairman Ham Young-joo / Courtesy of Hana Financial Group
By Lee Kyung-min
Hana Financial Group Chairman Ham Young-joo has been shortlisted among five candidates for the next chairmanship, the group said.
The recommendation committee of the group held a meeting on Monday to recommend Ham, along with the group vice chairman and Hana Bank CEO Lee Seung-lyul and Hana Securities head Kang Seong-muk. Two non-Hana figures recommended are financial experts and wished to stay anonymous until after the appointment of a new chairman, the group said. The sole candidate shortlisted will be announced after presentations by each candidate and in-depth interviews next month.
It remains to be seen whether the current chair will be the beneficiary of the recently revised internal regulation of the group whereby the chairman’s three-year term is guaranteed regardless of the previous age limit of 70. Ham was born in 1956. His term will end in March next year.
“The five candidates were selected in accordance with ‘best practices’ for the governance of banks and holding firms,” the group said.
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“Evaluation criteria will include entrepreneurship, vision and management strategy and expertise.”
The committee had a meeting for two outside candidates to help guarantee fair evaluation without subjecting them to disadvantages.
Meanwhile, the committee shortlisted Hana Card CEO Lee Ho-seoung as the sole candidate to head Hana Bank on Dec. 13. Lee Ho-seoung will replace Lee Seung-lyul, who did not seek a second term so he could focus on his role as the group’s vice chairman.
The Hana Card CEO has a strong track record in risk management and internal control, the group said, qualities critical to navigating the volatilities and uncertainties heightened in the domestic and global financial markets.
His top priorities will include customer-centric growth strategies coupled with experience-backed management of the group's business and internal affairs.
The group’s most lucrative banking subsidiary will be able to generate strong earnings, underpinned by demand-responsive marketing strategies and a corporate culture of optimism, it added.
Hana Financial Group’s net profit in the first three quarters of this year came to 3.22 trillion won ($2.2 billion), including 1.15 trillion won for the July to September period.