[Alpha Biz=(Chicago) Reporter Kim Jisun] With Mirae Asset Securities Chairman Choi Hyun-man (photo), the longest-serving CEO in the financial industry, stepping down from the management front, the generational replacement of top executives leading the financial investment industry is expected to take a rapid turn.

According to the financial investment industry on the 25th, the number of CEOs in the financial investment industry such as securities firms and asset management companies that are set to expire at the end of this year and early next year will reach dozens, including related agencies such as the Korea Exchange and Koscom.

The replacement scope has widened further this time as Mirae Asset Securities Chairman Choi, Vice Chairman Cho Woong-ki, President Lee Man-yeol and Mirae Asset Management Vice Chairman Choi Kyung-joo have resigned. Choi, a founding member of Mirae Asset Securities Co. in 1997, is known as a trusted member of Park Hyun-joo.

He has been named the longest-serving CEO in the financial industry for 26 years, including his second term as chairman in March. Mirae Asset Group announced the previous day the promotion of executives, including the appointment of six new vice chairmen. The securities were promoted to Kim Mi-sup, president of the global business division, Heo Sun-ho, president of the WM (asset management) division, Lee Jung-ho, president of the Hong Kong subsidiary, Lee Joon-yong, president of multi-management in asset management, President of Swaloop Mohanti India, and President Kim Jae-sik in life, respectively. These personnel will be finalized at an extraordinary shareholders' meeting in the future.

It is also expected that the Financial Services Commission will determine the level of sanctions against Lime and Optimus fund seller CEO as early as November in three years. The Financial Supervisory Service held a sanctions review committee in November 2020 and March 2021 and issued "a reprimand warning" to NH Investment & Securities CEO Chung Young-chae, KB Securities CEO Park Jung-lim and Daishin Securities Vice Chairman Yang Hong-seok for violating their obligation to set internal control standards. If you receive a heavy penalty of more than a reprimand warning, you will not be able to re-employed as an executive of a financial company for the next three to five years. The expiration dates of Park, Chung and Yang's terms are Dec. 31, March 1 next year and March 31 next year, respectively.

There are also many variables in the financial group, where the chairman of the holding company has changed. Shinhan Financial Group Chairman Jin Ok-dong began his term in March this year, and KB Financial Group Vice Chairman Yang Jong-hee will begin his term after a shareholders' meeting on Nov. 20. Park Jung-rim and Kim Sung-hyun, CEOs of KB Securities, Kim Sang-tae, CEO of Shinhan Investment & Securities, Lee Hyun-seung, CEO of KB Asset Management, and Cho Jae-min and Kim Hee-song, respectively, will all serve their terms until Dec. 31.

In addition, the term of office of Chung Il-moon, president of Korea Investment & Securities Co., Jang Seok-hoon, president of Samsung Securities Co., and Oh Ik-keun, president of Daishin Securities Co., will be until March next year. Sohn Byung-doo, chairman of the Korea Exchange, and Hong Woo-sun, president of Koscom, will end their terms in December.

 

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