Most Popular
-
1
Dongduk Women’s University halts coeducation talks
-
2
Defense ministry denies special treatment for BTS’ V amid phone use allegations
-
3
OpenAI in talks with Samsung to power AI features, report says
-
4
Russia sent 'anti-air' missiles to Pyongyang, Yoon's aide says
-
5
Two jailed for forcing disabled teens into prostitution
-
6
Trump picks ex-N. Korea policy official as his principal deputy national security adviser
-
7
S. Korea not to attend Sado mine memorial: foreign ministry
-
8
South Korean military plans to launch new division for future warfare
-
9
Kia EV9 GT marks world debut at LA Motor Show
-
10
Gold bars and cash bundles; authorities confiscate millions from tax dodgers
More than half of securities company chiefs in Korea are about see the end of their terms, signaling a wave of management changes in the brokerage industry.
According to the Korea Financial Investment Association, 29 out of 49 securities firms will see their tenures end next year.
In particular, most of the 10 major securities firms are affected. Samsung Securities replaced its CEO on Dec. 7.
The current figures include Daewoo Securities CEO Im Kee-young, Woori Investment and Securities CEO Hwang Sung-ho, and Hyundai Securities CEO Choi Kyung-soo.
Many mid-sized companies are also on the list. Among they are CEO of Kiwoom Securities, Kyobo Securities, Dongbu Securities, and KB Investment & Securities.
Several CEOs in the foreign brokerage sector may also be replaced. They include the chiefs of Deutsche Bank, BNP Paribas, Macquarie, Nomura and Citigroup Global Market.
Securities-related associations, such as the Korea Financial Investment Association, the Korea Securities Finance Corp. and the Korea Exchange, could also see replacement of their chiefs.
New CEOs in the stock brokerage sector are likely to take on a significant role as more and more securities firms are set to expand their assets to become big investment banks.
A big securities firm ― or an investment bank ― whose equity capital reaches 3 trillion won ($2.85 billion) will be entitled to extend loans to conglomerates, according to financial regulators.
Several major securities firms could also be able to meet the requirement through capital increase by issuing new stocks.
Daewoo has raised its capital base by 1.4 trillion won by issuing 136.6 million new common shares, aiming to rank as a global investment bank.
Samsung Securities and Woori Investment and Securities, followed Daewoo and increased their capital bases by 400 billion won and 600 billion won apiece.
In case of the banking industry, Shinhan Bank CEO Suh Jin-won and Hana Bank CEO Kim Jung-tae will see their terms expire next year.
The fate of Hana Financial Group chairman Kim Seung-yu is up to the coming situation whether the group will successfully take over Korea Exchange Bank from Lone Star Funds.
In the insurance industry, the list includes Korea Life, Mirae Asset, Prudential Life and Dongbu.
By Kim Yon-se (kys@heraldcorp.com)
According to the Korea Financial Investment Association, 29 out of 49 securities firms will see their tenures end next year.
In particular, most of the 10 major securities firms are affected. Samsung Securities replaced its CEO on Dec. 7.
The current figures include Daewoo Securities CEO Im Kee-young, Woori Investment and Securities CEO Hwang Sung-ho, and Hyundai Securities CEO Choi Kyung-soo.
Many mid-sized companies are also on the list. Among they are CEO of Kiwoom Securities, Kyobo Securities, Dongbu Securities, and KB Investment & Securities.
Several CEOs in the foreign brokerage sector may also be replaced. They include the chiefs of Deutsche Bank, BNP Paribas, Macquarie, Nomura and Citigroup Global Market.
Securities-related associations, such as the Korea Financial Investment Association, the Korea Securities Finance Corp. and the Korea Exchange, could also see replacement of their chiefs.
New CEOs in the stock brokerage sector are likely to take on a significant role as more and more securities firms are set to expand their assets to become big investment banks.
A big securities firm ― or an investment bank ― whose equity capital reaches 3 trillion won ($2.85 billion) will be entitled to extend loans to conglomerates, according to financial regulators.
Several major securities firms could also be able to meet the requirement through capital increase by issuing new stocks.
Daewoo has raised its capital base by 1.4 trillion won by issuing 136.6 million new common shares, aiming to rank as a global investment bank.
Samsung Securities and Woori Investment and Securities, followed Daewoo and increased their capital bases by 400 billion won and 600 billion won apiece.
In case of the banking industry, Shinhan Bank CEO Suh Jin-won and Hana Bank CEO Kim Jung-tae will see their terms expire next year.
The fate of Hana Financial Group chairman Kim Seung-yu is up to the coming situation whether the group will successfully take over Korea Exchange Bank from Lone Star Funds.
In the insurance industry, the list includes Korea Life, Mirae Asset, Prudential Life and Dongbu.
By Kim Yon-se (kys@heraldcorp.com)
