Shinhan CEO targets Asian top 10

By Kim Yon-se

Shinhan Bank president & CEO Suh Jin-won pledged Wednesday to achieve the goal of making the lender one of the top 10 commercial banks in Asia and No. 1 in Korea within four years.
Suh, who took office 100 days ago, unveiled the bank’s mid- and long-term targets during his meeting with reporters in downtown Seoul.
“I will take the role of initiating changes under the goal of pulling up our bank to the local best and Asia’s top 10 by 2015,” he said.
As a step for globalization, Shinhan Bank plans to focus on increasing profits in overseas markets in the coming years.
He said the bank will operate a variety of programs to foster human resources in foreign countries as part of its long-term vision for wider global projects.
“Through concentration (active investment) on core regions, we will increase the portion of earnings in overseas markets by pushing for a wider Asian financial belt.”

Suh stressed that he would become a “smart influencer” to induce the changing of the bank’s staffers and make the most of their potential and capability.
“In a bid to proivide our employees with best opportunities, I’m seeking to reshuffle the personnel system,” he said. “I will entrust the staffers with various authorities on the basis of my entire confidence in them.”
He cited several schemes for the coming shake-up to improve the personnel system, saying that the bank is considering launching a program to cultivate high-skilled female leaders and one for specialists in charge of the private banking sector.
The bank is also aiming to secure the No. 1 position in three business sectors -- asset management, blue-chip assets and retirement pensions, he added.

Suh, who began his career as a banker in 1977 after graduating from Korea University, joined the commercial bank in 1983.
Since being named deputy CEO of the bank in 2004, he has continued to hold executive-level posts, including group vice president, at the parent Shinhan Financial Group.
The nation’s third-largest financial group has said it expects that the new bank CEO will achieve harmony, integration and management normalization in the flagship banking unit.
(kys@heraldcorp.com)