President Kim Won-kyu of Woori Investment and Securities Co. has been named the president of the NH Investment & Securities Co., the company born from the merger between Woori Investment and Securities Co. and NH Securities Co., the NH Financial Group said on Oct. 29.
The group said its Executive Recommendation Committee chose President Kim to continue to head the newly-merged investment and securities affiliate of the group, pending the approvals of shareholders and the board of directors on Dec. 17 and Nov. 4, respectively. He will officially assume the CEO’s position on Dec. 31, if approved, the group said.
The new CEO is a veteran of more than 30 years with the securities industry. A business administration graduate of Gyeongbuk University in Daegu, he entered LG Securities and was the first CEO who came up through the rank and file of the securities company. He became a legendary figure of the company, with a reputation for leadership and a sharp ability to seize tough problems in the business.
He has been credited with boosting the performance of Woori Investment & Securities by focusing on the three major areas of operation, investment banking, securities trading and corporate business, with strategies tailor-made for those sectors.
The Executive Recommendation Committee noted Kim’s outstanding capacity and his abundant experience in the securities industry. They said he can vault the newly merged securities firm to the upper-echelon of the industry. He has a wide range of experiences in running a securities firm, winning the respect from people who have worked for him in various areas of the securities business, which the recommendation committee thought of highly.
The newly-merged securities firm will be the largest in the business in terms of assets and operational scale, with total assets coming to 42.401 trillion won and capital 4.290 trillion won.
Kim said he feels a massive responsibility to run the securities firm, pledging he will focus on internal matters, as the firm’s operational scale is big enough.
He also said expects huge synergy to come from the interaction of Nonghyup’s vast network and the funding resources of central cooperatives and regional cooperatives; and Woori Investment and Securities’ ability to create financial products. Based on those factors, he will attempt to bring the newly merged securities firm to No. 1 in the industry in the near future.
In a recent meeting, the Nonghyup Central Cooperatives Brand Committee decided to name the newly merged securities affiliate NH Investment and Securities Co.
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