NH Investment & Securities Elevated to Chairman CEO of the Financial Consumer Protection Council

On the 24th, NH Investment & Securities held a Financial Consumer Protection Council meeting at its Yeouido headquarters and announced the elevation of the Financial Consumer Protection Council Chair to CEO. (From left) Kim Oh-hoon, Head of Financial Consumer Protection Department at NH Investment & Securities; Hwang Kyung-tae, Head of Customer Asset Management Division; Choi Chang-sun, Head of Financial Consumer Protection Division; Park Sang-ho, Head of Compliance Supervision Division; and Kang Min-hoon, Head of Customer Support Division, are posing for a commemorative photo.

[Asia Economy Reporter Lee Seon-ae] NH Investment & Securities announced on the 24th that it has resolved to elevate the chairperson of the Financial Consumer Protection Council to the CEO at the 2nd Financial Consumer Protection Council meeting held on the same day.

The Financial Consumer Protection Council is an organization dedicated to financial consumer protection tasks established directly under the CCO (Chief Consumer Officer), composed of executives from related departments such as the Head of Compliance Monitoring Headquarters. Its purpose is to make policy decisions on current financial consumer protection issues and to facilitate smooth interdepartmental cooperation for efficient company-wide responses.

NH Investment & Securities appointed the industry's first independent CCO at the end of December 2019 and has been operating the Financial Consumer Protection Council chaired by the CCO. In line with the Financial Consumer Protection Act effective from March 25 this year, the council decided to elevate the chairperson from the CCO to the CEO and appoint external advisory members to broadly review the information gap issues between financial companies and consumers, actively reflecting these in the determination of financial consumer protection policy directions.

Additionally, a Financial Consumer Protection Practical Council (Practical Council) will be established under the Financial Consumer Protection Council to operate the council efficiently. The Practical Council is chaired by the CCO and composed of five or more heads of departments related to financial consumer protection tasks, deliberating on practical matters requiring prompt decision-making regarding all aspects of financial consumer protection.

Choi Chang-sun, Chief Consumer Officer (CCO) of NH Investment & Securities, stated, "Through the elevation of the chairperson of the Financial Consumer Protection Council, at this critical time when trust in financial consumer protection and the financial industry is important, we will strengthen internal controls to respect the rights and interests of financial consumers and establish a consumer-centric culture."

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