NH Investment & Securities Appoints President Jung Young-chae for Third Consecutive Term... Successfully Reelected

[Asia Economy Reporter Hwang Yoon-joo] Jung Young-chae, CEO of NH Investment & Securities, has effectively succeeded in his 'third term'.

On the 2nd, NH Investment & Securities held a meeting of the Executive Candidate Recommendation Committee (ECRC) and the Board of Directors, unanimously endorsing CEO Jung as the sole candidate. The appointment will be finalized at the shareholders' meeting on the 23rd.

Since January, the ECRC conducted verification procedures for several CEO candidates and stated, "After comprehensively reviewing capabilities to secure management stability amid uncertain financial conditions, expertise and insight into the capital market, CEO Jung was selected as the sole candidate."

Jung is a recognized IB (Investment Banking) expert who joined the predecessor of NH Investment & Securities, Woori Investment & Securities, in 2005 as head of the IB division after working at Daewoo Securities. He led the division for 13 years, pioneering acquisition finance and mergers & acquisitions (M&A) businesses, and was promoted to CEO in 2018 in recognition of his contributions to the growth of the IB sector. He successfully secured his first reappointment in 2020.

During his tenure as CEO, he led record-breaking performance. Last year, operating profit reached 1.3167 trillion KRW, achieving the goal set at his inauguration of "1 trillion KRW in recurring profit within five years."

Although NH Investment & Securities was implicated as the largest distributor in the Optimus fund scandal, Jung was cleared of charges by the prosecution, alleviating the burden. The ECRC also discussed the Optimus issue, but quick responses such as 100% principal repayment to general investors and the prosecution's dismissal of charges were taken into consideration.

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