[THE INVESTOR] Shinhan Investment, the brokerage arm of Shinhan Financial Group, carried out an organizational reshuffle and personnel appointments, as part of its long-term goal to promote its investment banking function, officials said on Jan. 23.
The move included the establishment of a product strategy department to work out business portfolio strategies and the expansion of the global investment financing headquarters.
The new product strategy department, consisting of a global asset distribution team and a product strategy team, will serve as a supply hub and a strategic planning center for the company.
Also, its investment finance section within the Group & Global Investment Banking Group has been renamed the Alternative Investment Headquarters, reflecting growing interest in alternative investment and reinforcing real estate investment.
Of the two corporate finance headquarters, one is to focus on global investment banking deals while the other will take charge of promoting promising small and medium-sized businesses, the officials said.
As of the end of the third quarter of last year, Shinhan Investment recorded 157.2 billion won (US$147 million) in accumulated net profit and 63.4 billion won in quarterly net profit, up 83.2 percent from a year before and up 32.7 percent from the previous quarter respectively.
By Bae Hyun-jung/The Korea Herald (firstname.lastname@example.org)