Woori Financial names eight CEO nominees

Kang Won, Kim Byung-hyo

Woori Financial Group announced chief executive nominees for eight affiliates including the group’s card and asset management arms. The nominations were made almost two months after Lee Soon-woo became the group’s new chairman and more than a month after the government kicked off its process of privatizing the country’s largest financial holding company based on assets by separating affiliates into three groups.

According to Woori Financial Group yesterday, its chief executive nominating committee confirmed chief nominees of the group’s eight affiliates after several meetings. The committee has reported the nominations to each affiliate’s board of directors. Many former and current vice presidents of Woori Bank were on the list.

Kang Won, former vice president of Woori Bank, was named to head Woori Card while Kim Byung-hyo, also vice president of Woori Bank, was nominated to head Woori Aviva Life Insurance. Park Sung-mok, former vice president of Woori Bank, was name as CEO of Woori F&I, while Park Jong-gyu, former president of Yurie Asset Management, was named to head Woori Asset Management. Kim Jong-wan, managing director at Woori Bank, was named Woori FIS CEO while Choi Eun-ok, former director of Woori Private Equity was nominated to head the same company. Joo Jae-seoung, former vice governor at the Financial Supervisory Service, was nominated to head the Woori Financial Research Institute. Heo Jong-hee, former vice president of the bank, was named CEO of Woori Credit Information.

“We expect the process of appointing nominees to be completed tomorrow [today] after confirmation by each affiliate’s board and shareholders’ meeting,” said an official from Woori Financial Group. “The committee is known to have selected nominees based on their expertise and the ability to maximize the value of the group so that privatization is carried out smoothly.”

BY LEE EUN-JOO [angie@joongang.co.kr]