Toss Bank Appoints Park Jin-hoe, Former CEO of Citibank Korea, as Outside Director

[Asia Economy Reporter Kiho Sung] Toss Bank has appointed former Korea Citibank CEO Park Jin-hoe (photo) as an outside director.

Toss Bank announced on the 12th that it appointed former CEO Park as an outside director (term of 2 years) through the shareholders' meeting held on the 9th. The vacancy left by the resignation of outside director Kim In-su has been filled by the addition of former CEO Park. With this, Toss Bank has reestablished a nine-member board of directors consisting of CEO Hong Min-taek, four inside directors, and five outside directors including former CEO Park.

Former CEO Park led Citibank for six years from 2014 until October last year, earning recognition for improving the bank’s structure and strengthening profitability. Born in 1957, Park graduated from Seoul Kyunggi High School and Seoul National University with a degree in Trade. After earning an MBA from the University of Chicago and a Master of Science (MSc) in Economics from the London School of Economics (LSE), he joined Citibank Seoul Branch in 1984. He held key positions including Head of Treasury at Citibank in 1995, Head of Corporate Finance at Hanmi Bank in 2001, Deputy CEO in charge of Finance in 2002, and served as Senior Deputy CEO of Korea Citibank for 10 years from 2004, contributing to Citigroup’s establishment in the Korean market and the merger with Hanmi Bank.

Previously, Toss Bank appointed a Compliance Officer and Chief Consumer Protection Officer (CCO) to manage internal and external risks and protect financial consumers. Compliance Officer Yang Su-ji (lawyer, Judicial Research and Training Institute class 38) worked at ABL Life Insurance from 2009 to May this year, serving as Head of Legal Affairs and Compliance Officer. Based on extensive legal experience in the financial sector, she will be responsible for comprehensively managing various risks at Toss Bank.

CCO Choi Seung-rak is an expert who, from 2010 until September last year, was responsible for global risk policy development in retail risk at Korea SC First Bank, Standard Chartered Singapore, and Hong Kong, as well as complaint analysis, improvement identification, and credit risk management.

A Toss Bank official said, “By bringing former CEO Park on board, we expect to fulfill a significant part of the market trust that a bank must have,” adding, “We will closely share opinions to establish and complete Toss Bank’s vision.” The official also added, “We plan to do our best in managing internal and external risks through professionals such as Compliance Officer Yang and CCO Choi.”

This content was produced with the assistance of AI translation services.