Korea Citibank Appoints Yum Yoosoon as President... First Female CEO of a Domestic Commercial Bank Emerges

Yoo Myung-soon, Nominee for President of Citibank Korea

[Asia Economy Reporter Kim Min-young] The first female CEO of a domestic commercial bank has been born.

On the 7th, Korea Citibank held the 2nd Executive Candidate Recommendation Committee meeting and announced that it had solely recommended Yoo Myung-soon, the current Head of the Corporate Finance Group and Acting CEO, as the next CEO candidate.

Born in 1964, Acting CEO Yoo is an expert in corporate finance (IB). She graduated from Ewha Womans University and joined Citibank in 1987, serving as Head of Large Corporate Risk Department, Head of Corporate Finance Products Division, and Deputy Head of Corporate Finance Products Division. In 2014, she was the Head of Corporate Finance at JP Morgan Seoul Branch before returning to Citibank, where she has been leading the Corporate Finance Group to date.

In Korea, there has been a precedent of a female CEO in the case of former CEO Kwon Sun-joo of IBK, but IBK is a policy bank where the Financial Services Commission recommends and the President appoints.

The next CEO is expected to be finally appointed after the shareholders' meeting and board of directors on the 27th.

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