NH Finance to Focus on Asset Management in 2015
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NH Finance to Focus on Asset Management in 2015
Amundi Asset Management and NH Finance¡¯s joint venture NH-CA to introduce 20 asset management products and boost trust asset management funds 32 trillion won by 2020 from 11 trillion won now

30(Fri), Jan, 2015


Chairman Yim Jong-yong of NH Financial Group.(Photo:NH Financial Group)



Chairman Yim Jong-yong of NH Financial Group unveiled a new vision for the group. It focuses on making its asset management plans well known in the industry. In order to strengthen its asset management division, the group¡¯s Chief Investment Officer (CIO) will take charge of its asset management operations, which will focus on overseas, replacement investment and M&As of asset management companies, Chairman Yim said during a media interview on Dec. 22 at the Korea Federation of Banks building in Myung-dong, downtown Seoul.

The group has set up a plan to strengthen its asset management sector, as its banking and insurance affiliates performances have not been on the same level as industry averages. Chairman Yim said the competitive power of the financial companies in the low-interest age will be determined by the asset management results.

The new CIO will take charge of asset management for the group. Kim Hi-seok, former managing director for Hanwha Life, has been named to the position. The group will hire some 65 professional asset managers to beef up its asset management operations, which will be geared to overseas investments and replacement investments, which is a move away from a dependence on credit management (68 percent).

The group¡¯s aim is to expand the trust management of assets to about 30 percent, or 32 trillion won, by 2020 from the current 15 percent of 11 trillion won.

The group has also decided to beef up competitive strength of its joint venture asset management company, NH-CA Asset Management, with Amundi Asset Management Co. The joint venture firm will introduce around 20 asset management products managed by Amundi next year. The joint venture asset management company will also enter the ETF and conduct M&As among its asset management strategies, and NH Financial will expand its stakes in the joint venture company from 60 percent to 70 percent. The financial holding firms, asset management, banks, securities firms and insurance firms affiliated with the group will get together to hammer out investment products to increase synergy.

Next year, they plan introduce 14 investment products, which are to be represented by a product named ¡°All Set¡± to let the market know that they are ready to push those 14 investment products.

All in all, what the group wanted to get out of its new investment banking strategy is geared to securing some 300 billion won in profit by 2020. Chairman Yim said boosting profit by 13 percent, from this year¡¯s projected 800 billion won to 905 billion won. 

In the United States, Credit Agricole CIB offers the full range of the Corporate and Investment Bank's expertise to large corporate clients and financial institutions through several dedicated product lines:

Debt Optimization and Distribution (DOD): originates, structures, and distributes syndicated loans and bi-lateral facilities, as well as Term Loan A and B. It acts as primary underwriter and is active on the secondary market to provide liquidity to investors.

Structured Finance (SFI): originates and structures complex financing with a particular focus and expertise in the energy, infrastructure, transportation, real estate and lodging sectors.

Global Markets Division (GMD): strong expertise in foreign exchange, interest rates including Repos, USD Government and Corporate bonds, Private Placements, securitization solutions through ABCP conduits or term ABS.

Global Investment Banking: M&A Advisory and Equity Capital Markets, including equity primary market, strategic equity transactions, and structured financial solutions. 

Commercial Banking & Trade (CBT): Provides commercial banking solutions as well as export and trade financing.


   
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