Shinhan Financial Investment Opens Cheongdam and Gwanghwamun Financial Centers

[Asia Economy Reporter Minji Lee] Shinhan Financial Investment announced on the 5th that it has newly established two specialized financial centers, Cheongdam Financial Center and Gwanghwamun Financial Center, focused on professional asset management services for high-net-worth individuals. The newly established Cheongdam and Gwanghwamun Financial Centers are located in the top landmarks of Gangbuk and Gangnam, respectively, and will offer specialized and differentiated asset management services for high-net-worth clients.

The two newly established centers were opened by aggressively recruiting consumer finance asset management experts from Citibank, which recently announced its withdrawal from consumer finance. To open these specialized branches targeting high-net-worth individuals, Shinhan Financial Investment recruited a total of 30 star-level asset management experts from Citibank, including two master PBs who managed clients with assets over 3 billion KRW and ten top asset management experts (CPC PBs) who managed clients with assets over 1 billion KRW.

At Cheongdam Financial Center, the most competitive area for domestic high-net-worth asset management, Shinhan Financial Investment recruited Center Director (Executive Director) Yeom Jeong-ju, a first-generation private banker (PB) in Korea known as an asset management expert with experience in PB education, investment-related research, and product development. Director Yeom served as the head of Citibank’s largest wealth management (WM) service branch, the 'Cheongdam Center,' until recently and is recognized as a veteran asset management professional with remarkable achievements.

Yeom Jeong-ju, Director of Cheongdam Financial Center, stated, “It is expected that incorporating capital market products into the existing bank-based asset management will deepen asset allocation. The fundamental principle of asset management is to construct and manage portfolios with assets and products suitable for clients’ investment tendencies and financial goals, based on a customer-centric mindset.”

At Gwanghwamun Financial Center located in Gangbuk, two of the three master PBs who were previously at Citibank have been recruited. These professional personnel will provide total asset management solutions including customer-centered financial product sales, corporate fund management, inheritance and gift planning, and tax consultation.

In particular, Shinhan Financial Investment has actively recruited not only asset management experts from Citibank but also asset allocation specialists to systematically introduce advanced asset management culture. In the year-end organizational restructuring, an investment advisory department was newly established, and four asset allocation experts from Citibank were newly appointed. They will carry out tasks such as financial market analysis, providing model portfolios, and reviewing client portfolios.

Lee Young-chang, CEO of Shinhan Financial Investment, said, “The launch of Cheongdam and Gwanghwamun Financial Centers will serve as a signal for transforming retail branches into comprehensive asset management services that provide optimal financial solutions by thoroughly analyzing the financial market environment and external variables and accurately understanding customer tendencies. The advanced asset management professionals and systems from Citibank will synergize with Shinhan Financial Investment’s customer-centric approach and Shinhan Financial Group’s core values of ‘Right, Fast, Different,’ becoming a catalyst for Shinhan Financial Investment to leap forward as a leading securities firm in the capital market.”

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