KB Financial recommends CEO candidates for 4 affiliates

Kim Sung-hyun, left, and Lee Hong-ku — co-CEOs of KB Securities / Courtesy of KB Financial Group

KB Financial Group recommended CEO candidates of its four affiliates on securities, credit card, life insurance and IT data businesses, the company announced Friday.

The country’s No. 1 financial group said its CEO recommendation committee decided to keep co-CEOs of KB Securities — Kim Sung-hyun and Lee Hong-ku — again for next year for their “extraordinary leadership in management.”

Kim leads the investment banking unit and Lee leads the wealth management unit in KB Securities, which logged 735.5 billion won in accumulated operating profit for the first three quarters of 2024. The amount marked a 20.31 percent increase from a year earlier.

Concerning three other affiliates, KB Financial Group, however, decided to replace their leaders in a bid to make respective companies become "more agile and dynamic.”

Kim Jae-kwan, the senior vice president and chief financial officer of KB Financial Group, was recommended as the CEO of KB Kookmin Card in recognition of his "rich experience in a wide range of key positions."

Jeong Mun-cheol, a senior executive vice president of KB Kookmin Bank, was recommended to lead KB Life Insurance.

He currently heads the bank’s Retail Customer Group and is valued for serving in strategy planning, marketing, finance and other areas that the insurance company finds essential for “a balanced growth,” KB Financial Group said.

Another KB Kookmin Bank senior executive vice president, Park Chan-yong was recommended as the CEO of KB Data Systems.

Also the chief officer of planning and coordination at the bank, Park is regarded as being capable of “speeding up restructuring of corporate governance” pursued by the IT data company.

He is also given credit for communication skills that are anticipated to help “bring parties of different interests into one.”