NH Securities selected President Chung Young-chae as CEO with the goal of uniting the company and refocusing the corporate culture on performance results, said Chung in an interview. He took office on March 22.
In the interview with a local daily after he was appointed to run the company as president and CEO, Chung said he was overwhelmed with worries rather than joy. Chung was a career securities man who spent most of his time with the company in the marketing area.
He started his life in the securities industry with Daewoo Securities in 1988 following his graduation from Seoul National University. Chung continued to work with a securities firm for over 30 years.
In 2005, he switched to Woori Investment and Securities to run the IB dep’t, and stayed there for over 14 years until now. NH Investment and Securities took over Woori Investment and Securities in Dec. 31, 2014.
Getting promoted to president was nearly impossible for career employees working for NH Investment and Securities.
NH Financial Holdings, its holding company, and even the National Agricultural Cooperatives Federation, had intervened in its internal matters, especially when it came to personnel moved.
But both the NH Financial Holding and NACF highly considered President Chung’s background as an investment specialist and agreed with the board’s decision to recommend Chung as CEO.
NH Investment & Securities Co., Ltd. provides brokerage, underwriting, and securities dealing services.
The Company's offerings include financial advisory service, online trading, corporate financing, research, foreign exchange service, beneficiary certificates, investment consulting, financial NH Investment & Securities has successfully concluded the post-merger integration process with reinvigorated internal processes, IT infrastructure, and corporate culture.
“We have also streamlined our businesses with its core value of ‘Customer-first orientation’ and have started to generate higher ROE for our investors,” the company said.
Amidst the continued political uncertainty and stagnant economic growth across the globe, NH I&S said it will endeavor to develop a balanced business portfolio.
“Furthermore, in order to respond to drastic changes in the industry and regulations NH Investment & Securities is consolidating its leading position in the market by ensuring a stable flow of revenue from our Wealth Management business to balance the fast growing Investment Banking business.
The company outlined five key strategies to achieve the goal:
- Increase stable sources of revenue from Wealth Management
- Expand global reach and reinforce our capabilities
- Increase our capital effectiveness and efficiency to boost return on equity
- Stay ahead of the curve in digitalization
- Strengthen identity within the NH Group derivatives, bonds, and mutual funds
The building in Yeouido, Seoul, where the NH Investment & Securities Co. is located.