Young-ju Ham, Seong-ho Park, and Jin-hoe Park were also candidates
“Including candidates for organizational stability”
When Chairman Kim is reappointed, he performs his duties for another year
Chairman Recommendation Committee, finalized this month
Hana Financial Group Chairman Kim Jung-tae (69), Hana Financial Group Chairman Young-joo Ham (65), Hana Bank Vice President Park Sung-ho (53), and Citibank Korea President Park Jin-hoe (64) were nominated for the next Hana Financial Chairman. On the 15th, the Hana Financial Chairman Candidate Recommendation Committee confirmed the above.
○ 3 insiders, 1 outside
Eight outside directors, including Chairman of the Board of Directors Yoon Seong-bok, former vice chairman of Samjung KPMG, Park Won-gu, Korea University research professor, and Cha Eun-young, Ewha Womans University professor, attended the meeting held on the day. In January, Hoe Chul-wi selected a total of 14 eligible candidates (long list). Of these, 9 were from inside and 5 were from outside. At the meeting, individual candidates were evaluated according to the criteria for evaluation of the next chairman-elect, which were determined in advance: vision and mid- to long-term management strategy, entrepreneurship, career, expertise, global mind, and network, and four final candidates (shortlist) were selected.
Chairman Kim Jong-tae served as the head of Hana Bank in 2008 and then became the chairman of Hana Financial Group in 2012, and reappointed twice in 2015 and 2018. If he succeeds in reappointing again this time, he will enter the’fourth term’. Vice-Chairman Ham Young-joo is a person who became vice-chairman of Hana Bank in 2015 and became vice-chairman in 2018. Vice-president Park Seong-ho was from Korea Investment Finance and served as the CEO of Hana Financial Group and led Hana Bank Asset Management Group (WM).
Former chief executive Park Jin-hoe spent 30 years at Citibank and resigned after giving up his reassignment in October last year. Hana Financial Group explained, “Three internal candidates and one candidate were selected, enabling effective competition.”
○Is Kim Jong-tae’s popular opinion hardened again?
Yoon Seong-bok, chairman of Hana Financial Group, said, “We have transparently and fairly determined candidates according to the management succession plan and recommendation procedure,” and said, “We included candidates for the organizational stability of Hana Financial Group.” The point of mentioning’organizational stability’ is an analysis that it has nothing to do with’Kim Jung-tae’s theory’, which is increasing both inside and outside Hana Financial Group.
The person who has been mentioned as the next most influential next Hana Financial Group chairman in the industry is Vice Chairman Ham. This is because he led Hana Bank, which was integrated with Korea Exchange Bank, and has been in harmony with Chairman Kim for a long time. However, Vice Chairman Ham is being tried for employment corruption. The financial authorities have also received a’response warning’ regarding the incomplete sale of a derivative-linked fund (DLF) linked to foreign interest rates.
The current trend has changed in recent years as voices of concern about such legal risks have grown both inside and outside the group. It is the logic that Chairman Kim should be reappointed for organizational stability. An official from Hana Finance explained, “As Vice Chairman Ham received an additional year as Vice Chairman in January this year, he is still a good candidate for the next chairman-elect.” It is an evaluation inside and outside Hana Financial that it is unlikely that Vice-Chief Park and former Chairman Park will be the chairman.
The Huichu Committee plans to confirm the final candidate this month through in-depth interviews with the candidates. The term of office of Chairman Kim Jong-tae is until the regular general shareholders’ meeting in March, and the new presidential candidate must be confirmed two weeks before the general shareholders’ meeting. If Chairman Kim is additionally reappointed, under internal regulations, he can only perform his duties until the regular shareholders’ meeting in March next year, when he turns 70 years old. If he succeeds in reappointing, it will be the second case of four tenures after Ra Eung-chan, former chairman of Shinhan Finance (2001-2010).
Reporter Kim Dae-hoon [email protected]