iM Financial, AllianceBernstein to expand ETF and wealth management cooperation

iM Financial Group is pushing to expand cooperation with global asset manager AllianceBernstein (AB) in the ETF and wealth management sectors, aiming to diversify its investment products and services by combining the group's domestic financial network with AB's global asset management capabilities.

iM Financial said Thursday that Chairman Hwang Byung-woo met AB President Onur Erzan in New York last month to discuss a broad range of cooperation expansion plans.

The two sides agreed to prioritize strengthening ETF project cooperation and to extend their partnership into wealth management, including income solutions tailored to customers' life cycles. Income solutions are investment strategies that seek to generate regular cash flows through interest, dividends and similar instruments.

iM Financial is expanding its financial network nationwide through key affiliates including iM Bank, which converted to a commercial bank, as well as iM Securities and iM Asset Management. The group plans to integrate global investment products into its expanding sales network to widen customer reach and strengthen its wealth management competitiveness.

"Korea is a very important market in AB's global growth strategy," Erzan said. "We look forward to working with iM Financial Group to offer Korean investors a diverse range of global investment opportunities."

"Combining the strengths of both companies will enhance the diversity and originality of iM Financial's product lineup and elevate our customer service to the next level," Hwang said. "We will continue to develop our cooperation from a long-term perspective."

Meanwhile, Hwang held investor relations events in New York and other major US cities last month, briefing key global investors on the group's plans to enhance corporate value and the progress made in implementing them.