NH NongHyup Financial Group held a shareholder steering committee to review growth strategies for NH-Amundi Asset Management and discuss mutual cooperation in France.
The meeting was held at the headquarters in Jung-gu, Seoul on May 19 as Julien Fontaine, head of partnerships at Amundi in France, visited the headquarters of NH NongHyup Financial Group in Seoul for the first time in two years, according to NH NongHyup Financial Group on May 23. It was the first visit since the start of the COVID-19 pandemic.
At the meeting, Kim Yong-ki, vice president of the Business Strategy Division at NH NongHyup Financial Group, noted that NH-Amundi Asset Management had surpassed 52 trillion won in deposits at the end of April based on a strong partnership between the two companied, and established its solid position as the 7th largest general asset management company in Korea.
Fontaine emphasized the need to secure future growth engines by increasing overseas investment capabilities to fuel sustainable growth.
Accordingly, Amundi promised to expand its sharing of global asset allocation strategies, fund credit research, provide overseas investment training programs for managers of all NongHyup affiliates, and help increase capacities by inviting them to business strategy meetings at the headquarters of Amundi in France.
In addition, NH NongHyup Financial Group decided to actively cooperate with Amundi to transfer the latter¡¯s advanced ESG investment process and know-how to NH-Amundi Asset Management so it will be able to take the lead in the ESG financial market in Korea. The amount of Amundi's ESG funds ranks first in Europe.
Amundi was selected as the first ETF management company to comply with the Paris Climate Agreement.
NH NongHyup Financial Group decided to further strengthen its partnership with Amundi with rich overseas investment experience and ESG investment capabilities with this meeting as a good opportunity.
At the same time, they agreed to pump up efforts to promote overseas business and ESG as a new growth driver.
Visit to ROK-US Combined Forces Command
NH NongHyup Financial Group visited the ROK-US Combined Forces Command in Yongsan-gu, Seoul on June 15 to encourage soldiers, who are dedicated to the peace and security of South Korea, and boost their morale on the occasion of the Patriots and Veterans Month.
On this day, NH NongHyup Chairman Son Byung-hwan expressed gratitude for their services by delivering a donation to Ahn Byung-seok, deputy commander of the ROK-U.S. Combined Forces Command.
¡°I would like to express my gratitude and support for Korean and American service personnel who are making Korea secure and peaceful,¡± Chairman Son said. ¡°We will continue to strengthen our activities to appreciate their services down the road.¡±
NH NongHyup Financial Group carries out social contribution activities every year, such as visiting military units and sharing activities for people who sacrificed themselves for their country.
In addition, as part of ESG management, all affiliates such as NH NongHyup Bank, NH NongHyup Life Insurance, NH Nonghyup Property & Casualty Insurance and NH Investment & Securities are planning to carry out various activities such as giving support to patriots and war veterans among others.
All One Bank App
At the end of June, NH NongHyup Financial Group launched the All One Bank App, which integrates services of NH NongHyup financial affiliates in the credit card, insurance, and securities business.
¡°We will first release a service that integrates affiliates¡¯ services on June 25,¡± said an official of NH NongHyup Financial Group. ¡°Then we will launch cloud services that can expand transaction performance in stages by January next year.¡±
The reorganization of the app consists of a customer-oriented comprehensive financial platform construction project that Chairman Son is promoting to strengthen the digital competitiveness of NH NongHyup Financial Group.
Chairman Son has set a policy to bring together products and services scattered by affiliates.
His plan is to create synergies among affiliates and provide new financial services to attract young people as new customers.