Brokerages see generational change in leadership
Brokerage houses are undergoing a generational change in leadership, with those who are as young as their mid-50s being nominated as CEOs of their respective companies.
NH NongHyup Investment & Securities said Tuesday it nominated Vice President Yoon Byung-un as the new CEO. He will replace Chung Yung-chae who resigned, March 4, after leading the firm for past six years.
The company said Yoon won the sole nomination by its executive candidate recommendation committee. He will be officially appointed if he wins approval at the annual shareholders’ meeting scheduled on March 27.
Born in 1967, Yoon built expertise as he helped the firm to advance into investment banking.
He led the heyday of the firm’s investment banking by working with Chung for nearly 20 years.
A Hankuk University of Foreign Studies graduate, he joined LG Investment & Securities, the predecessor of NH Investment & Securities, in 1993.
He served as head of the corporate finance team and head of the coverage division as he climbed the ladder there. Hi Investment & Securities said it nominated former Daegu Bank Vice President Sung Mooyong as its new CEO.
Born in 1963, Sung worked at various positions, including strategy management and marketing and sales, at the Daegu-headquartered lender.
For official CEO appointment, he awaits approval from the board of directors during their regular meeting, March 28.
KB Securities is being led by co-CEOs Kim Sung-hyun and Lee Hong-ku.
Kim extended his term for one year after taking the job in 2019, while Lee newly took office this year.