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THE INVESTOR

Finance

Shinhan, Woori to pick new CEOs

  • PUBLISHED :January 10, 2017 - 17:20
  • UPDATED :January 10, 2017 - 17:21
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[THE INVESTOR] Shinhan and Woori, South Korean two major lenders, are poised to find new leaders ahead of their general shareholders meeting in March.

Shinhan Financial Group has gained speed in the process by drawing up a shortlist of candidates to replace its chairman Han Dong-woo, whose term ends in March.

They are Shinhan Bank CEO Cho Yong-byoung, Shinhan Card CEO Wi Sung-ho, Shihan Investment CEO Kang Dae-seok and Choi Bang-gil, former CEO of Shinhan BNP Paribas Asset Management.

A related panel plans to release the names of a few candidates later this week who will be interviewed, with the aim of picking one successful candidate on Jan. 20.

On the other hand, it’s expected to take more time for Woori Bank to find its new CEO.

Market watchers are paying keen attention to who will become Woori’s head as a litmus test of the government’s influence over the recently privatized lender.

In December, the state-run Korea Deposit Insurance Corp. sold its 29.7 percent stake in the lender to seven institutional investors. The government retains a 21 percent stake in Woori.

Woori plans to receive applications for the CEO job until Jan. 11. Many predict the selection process will finish as early as late January.

(theinvestor@heraldcorp.com)
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