Shin Jae-wook, head of real estate and infrastructure, and Bae Gwang-su, head of wealth management, nominated as co-CEO candidates; both are internally promoted executives born in the 1970s
NH Investment is moving to establish next-generation leadership by introducing a co-CEO structure led by executives born in the 1970s. The move is seen as a strategic personnel decision aimed at responding to a new growth phase driven by the expansion of its integrated management account, or IMA, business and strengthening expertise across individual business divisions.
According to the financial investment industry, NH Investment said its executive candidate recommendation committee, which met Thursday, nominated Shin Jae-wook, head of the real estate and infrastructure division, and Bae Gwang-su, head of the wealth management division, as candidates for the next co-CEO positions.
Shin was nominated to oversee corporate finance, asset management, wholesale operations and companywide administrative divisions, while Bae was nominated to lead wealth management, digital, channel and research divisions. Both candidates are expected to be formally appointed following approval by an extraordinary board meeting and a shareholder vote at an extraordinary general meeting on June 30.
Also notable is that Shin, born in 1970, and Bae, born in 1972, are stepping into the top management roles. NH Investment said it placed next-generation leadership at the forefront to strengthen its future competitiveness.
The shift to a co-CEO structure is also tied to NH Investment's ongoing IMA business expansion. In April, the company's board decided to move from a single-CEO model to a co-CEO structure to respond to business growth and changing market conditions, and to strengthen divisional expertise and accountability.
Shin is regarded as a corporate finance specialist with extensive experience across NH Investment's core business divisions. The executive candidate recommendation committee assessed him as the right person to lead the company's medium- to long-term growth strategy, including IMA business expansion, identifying new growth engines and diversifying its revenue base.
Bae is a wealth management specialist who has driven customer base expansion and strengthened sales competitiveness in the retail division. He is expected to upgrade the customer-centered asset management framework and lead qualitative growth in the retail business through digital-driven sales innovation.
NH Investment's IMA business has drawn a positive market response. The company launched its second IMA product, "N2 IMA1 Mid-Term No. 2," on June 1, and the 120 billion won (about $87 million) offering sold out within half a day of going on sale. Its first product, a 400 billion won offering introduced in April, also sold out ahead of schedule.
The second product is a closed-end product with a maturity of two years and three months and a performance fee benchmark return of 4.0 percent per year, with the potential for additional returns depending on investment performance. The product also raised its profitability by increasing the proportion of corporate finance assets and incorporating select alternative investment assets.
Even after transitioning to the co-CEO structure, NH Investment plans to operate a strategic resource allocation committee to maximize synergies across business divisions. The company said it intends to build a sustainable growth foundation by advancing divisional expertise and strengthening accountability alongside its IMA business push.
"We decided to transition to a co-CEO structure at a time when the company is entering a new phase of growth, including the IMA business, in order to enhance divisional expertise and strengthen accountability," NH Investment said. "We expect the co-CEO candidates to further sharpen the company's business competitiveness based on their expertise and experience, and to lead the company's continued growth."
th5@heraldcorp.com
