Shinhan Financial Group Recommends Kim Sang-tae, Former Mirae Asset IB Chief, as President of Shinhan Financial Investment GIB Division

"To Strengthen Capital Market Competitiveness"

[Asia Economy Reporter Yu Je-hoon] Kim Sang-tae, former Head of IB at Mirae Asset Securities, has been recommended as the Co-CEO and President of Shinhan Financial Investment's GIB division.

Shinhan Financial Group announced on the 17th that it held a Subsidiary Management Committee meeting at its headquarters in Jung-gu, Seoul, and newly recommended former Head Kim as the Co-CEO and President of Shinhan Financial Investment's GIB division.

The committee has been continuously recruiting verified experts with proven performance and capabilities under the recognition that enhancing competitiveness in the IB sector is essential to strengthen the group's capital market capabilities. The committee explained the background, stating, "We have continuously pursued strengthening capital market competitiveness through recent acquisitions such as Asia Trust and Shinhan Venture Investment, the establishment of Shinhan REITs Management, and the integration of asset management companies," adding, "For additional growth momentum, Shinhan Financial Investment's IB division needs to play a more central role."

President Kim previously served as Head of IB at Mirae Asset Securities and was recognized for his deal sourcing capabilities and drive in areas such as ECM and DCM. In particular, he was credited with contributing to Mirae Asset Securities establishing itself as a traditional leader in the IPO market and demonstrated leadership during the integration process of Daewoo Securities and Mirae Asset.

A committee official stated, "Capital markets, including IB, inevitably require big names with a track record above a certain level," and evaluated, "Following the appointment of President Cho Jae-min of Shinhan Asset Management at the end of the year, the recruitment of President Kim now completes the lineup to actively participate in the capital market competition."

Meanwhile, President Kim is scheduled to assume office as CEO through a shareholders' meeting on the 22nd after deliberation by Shinhan Financial Investment's Executive Candidate Recommendation Committee. His term will last until December 31 of next year.

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