Shinhan Investment to Strengthen IB Role
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Shinhan Investment to Strengthen IB Role
Company is set to boost capital to 4 tln won and its outlets in key global financial markets, such as those in Hong Kong, New York and London

27(Sat), Apr, 2019

President Kim Byung-cheol of Shinhan Investment Co. (Photos: Shinhan Investment)

Shinhan Investment Corp. has been considering boosting its capital to get ready to become a larger investment banking company, said President Kim Byung-cheol at his inaugural media briefing on March 26 at the company’s head office in Yeouido, Seoul.

Shinhan Investment, Shinhan Financial Group's brokerage unit, will seek to become a leader in the capital market by strengthening its investment banking (IB) business, its new CEO Kim Byung-cheol said.

“I understand Shinhan Financial Group is strongly reviewing its plan to raise capital to get approval from the financial authorities for a mega IB.” Kim said at the securities firm’s headquarters in Yeouido.

“Our outlet in Hong Kong will be reshaped as an IB hub for the Asian market, while the New York outlet will operate as a global investment center.” he said.

The company will boost its IB operation in the countries in the region including Vietnam and Indonesia.
The financial products handled in New York may be brought to the Korean market through its New York outlet, CEO Kim said.

The 58-year-old has proved his excellence in the investment sector throughout his career in the nation's securities business sector, and he said he will utilize this expertise to lead the brokerage to grow as a global behemoth during his term.

The brokerage is currently the nation's sixth-largest securities firm with total equity of 3.4 trillion won ($2.99 billion).

In a bid to establish a mega investment bank, sources say at least 4 trillion won worth of capital is required, so Shinhan Financial Group is expected to raise 600 billion won through new stock issuances by the end of the year.

“To me, honestly, Shinhan Investment’s IB business has not been very satisfying from all aspects, including its market presence and earnings.” he said.

“Shinhan Investment will enhance its competitiveness to size up and meet customers’ needs by offering diversified investments.” Among the reform the CEO considers include the improvement in the IB operation so that the company will offer the IB dealings to the customers before they ask in such areas as M&As and securing funds.

He said under his management, the company will provide tailor-made financial services to its customers by analyzing their financial needs based on their assets, the financial situations, the operational environment, and mid-long-term financial plans, among others.
The company will also give its asset management services to its individual customers throughout their careers.

The new CEO also may go for reorganization of the company’s set up and operation; He may boost the number of personnel in a number of the departments including the ECM, DCM and venture investment sections. He will also change the remuneration system so that the personnel who worked harder and contributed more to the company will get compensated more.

Graduating from Seoul National University with a degree in economics, Kim joined Tongyang Securities in August 1989. He has since spent his entire career in the bond and investment banking sectors.

He joined Shinhan Investment in August 2012 as the securities firm's S&T Group Vice President, and has proven his value in the brokerage’s asset management businesses.

Shinhan Investment Corp. was established in 2002 through the merger of Shinhan Securities and Goodmorning Securities. The company converted from a securities firm to a financial investment company with the introduction of the Financial Services Act in 2009, acquiring the current company name.

Based on a strong corporate governance structure and financial stability, we have emerged as the leader in the financial investment industry by integrating advanced management techniques.

We provide differentiated asset management services based on the industry’s leading sales capabilities in global equity and derivative products, in-depth research skills, stable product management strategies and advanced management techniques.

A view of the building in Seoul where Shinhan Investment is located.

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