NH Investment & Securities CEO to step down, 3 on shortlist

Park1 Tower, the headquarters of NH Investment & Securities in Yeouido, western Seoul [YONHAP]

NH Investment & Securities named three candidates to head the company after its CEO, Jeong Young-chae, announced on Tuesday that he is stepping down.

The company’s CEO candidate recommendation committee named Yoon Byung-un, NH Investment & Securities' Executive Vice President, Yoo Chan-hyung, a former vice chairman at the National Agricultural Cooperative Federation and Sa Jae-hun, former vice president at Samsung Securities, to the shortlist.

Yoon, the only internal contender, started working for NH Investment & Securities in 1993 and is evaluated to have played a major role in advancing the company’s investment banking.

Yoo worked across the financial field, including in mutual finance, while Sa previously oversaw wealth management.

The finalist will be announced on March 12 and will be officially appointed on March 26 when the company is scheduled to hold a shareholder meeting, when Jeong’s term will expire.

The current chief expressed his intention to step down on his social media page, announcing his impending departure from the position he first took up in 2018. He served two more terms after being reappointed in 2020 and 2022.

He noted that the role requires “more rapid and accurate judgment than any other fields” as the market fluctuates endlessly and decisions that change from moment to moment could determine the rise and fall of a company.

BY JIN MIN-JI [jin.minji@joongang.co.kr]