CEO of KIS to Serve 9th Term, Longest in Securities Industry
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CEO of KIS to Serve 9th Term, Longest in Securities Industry
Ryu Sang-ho becomes longest-serving CEO in securities industry in Korea, keeping morale up by never laying off employees, even in tough times

01(Sun), May, 2016




President Ryu Sang-ho of Korea Investment and Securities Co. named to serve his 9th term as the CEO of the securities firm, becoming the longest serving CEO of a securities firm in Korea(Photo:KIS)



Korea Investment & Securities said March 24 that President Ryu Sang-ho will serve a ninth term, becoming the longest-serving CEO in the nation’s securities industry, where the average CEO tenure is only about three years.

The reappointment was agreed upon in a shareholders meeting earlier that day.

Ryu, 56, has led the nation’s fifth-largest brokerage firm by equity capital over the past eight years since he took office as the industry’s youngest CEO in 2007.

Under his leadership, the company has become a top-tier brokerage with a specialty in wealth management and investment banking. In 2011-2013, the company topped net profit among the nation’s 10-biggest securities firms. In recent years, the company’s net profit continued to increase, reaching 226.2 billion won ($193.3 million) in 2014 and 284.8 billion won in 2015.

In 2014, when the whole industry carried out a large-scale restructuring, the company didn’t lay off workers and promoted high-performing employees.

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, customers' assets under management soared to 133.5 trillion won from 63.3 trillion won. The firm also topped the industry in net profit for four consecutive years until 2014. 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.

At the annual September hiring event, Ryu not only explains the direction his company is heading, he also gives straightforward advice from his own personal experience on what it was like for him to be a securities broker for the past 30 years and how the brokerage industry works.

“Working at a brokerage firm is like living the life of an underdog. If you don’t think you will enjoy it, you shouldn’t apply to our firm,” Ryu said at a recruitment event last year held at his own alma mater Yonsei University, as he emphasized the significance of performance. “Financiers should be ready to stand critical feedback every single day from clients.”

At the same time, Ryu emphasized the firm’s biggest recipe for success in staying strong with employees through financial challenges instead of simply undertaking corporate restructuring.

“Our core business strategy is to always prepare for the cyclical nature of the brokerage industry, and taking care of the organization is healthy by investing in employees in times of a tough economy,” Ryu said. “I think it [hiring with no layoffs while competitors slim down staff] will be the future growth engine for Korea Investment to enjoy later when the economy recovers.” Hiring every year and not forcing layoffs are a unique aspect of the firm’s talent management.

The firm has seven offices overseas - in New York, London, Hong Kong, China, Singapore, Vietnam and Indonesia - mainly doing market research and providing advice and assistance on foreign direct investments, project financing and mergers and acquisitions (M&A) cases involving Korean companies.

The firm hires an average of 10 staff from foreign universities every year, mostly graduates of major colleges and master’s programs of business administration at the University of Hong Kong, Beijing University and Fudan University in China. The process is part of the company’s investments strategy to keep expanding overseas businesses and provide more accurate investment information to Korean investors.

   
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