Vice Chairman Kim Yong-beom Appointed as CEO of Meritz Financial Group... Kim Jung-hyun Named New CEO of Hwajae

by Lee Minwoo

Published 21 Nov.2023 10:53(KST)

Appointed New CEO Born in 1977... Future Group CEO Candidate

Meritz Financial Group is establishing a practical holding company-centered management system after fully incorporating Meritz Fire & Marine Insurance and Meritz Securities as 100% subsidiaries last year. Kim Yong-beom, who served as CEO of Meritz Fire & Marine Insurance, will move to become the CEO of the holding company, and a successor born in 1977 will take over as CEO of Meritz Fire & Marine Insurance.

On the 21st, Meritz Financial Group announced this personnel reshuffle.

According to the holding company-centered integrated management, both Vice Chairman Kim Yong-beom and Vice Chairman Choi Hee-moon, who are currently CEOs of Meritz Fire & Marine Insurance and Meritz Securities respectively, will move to the holding company to oversee the overall group management. While appointing next-generation talents as key executives such as subsidiary CEOs, the group plans to introduce a stable CEO succession program by selecting them as candidates for the next group CEO to ensure management stability.

Kim Joong-hyun, Nominee for CEO of Meritz Fire & Marine Insurance (Provided by Meritz Financial Group)

For Meritz Fire & Marine Insurance, Kim Jung-hyun, Executive Director, has been nominated as the new CEO to succeed Kim Yong-beom. Born in 1977, Kim graduated from Seoul National University with a degree in Business Administration and joined Meritz Fire & Marine Insurance in 2015. Since then, he has held positions such as Head of Change Innovation TFT, Head of Auto Insurance Team, Head of Product Strategy Office, and Head of Management Support Office.

Jang Won-jae, Nominee for CEO of Meritz Securities (Provided by Meritz Financial Group)

Jang Won-jae, Head of Sales and Trading Division, has been nominated as CEO of Meritz Securities. He graduated from Seoul National University with a degree in Mathematics, earned a master's degree in Mathematics from Seoul National University Graduate School, and a Ph.D. in Mathematics from the University of Minnesota, USA. He joined Meritz Fire & Marine Insurance in 2015 as Executive Director of Risk Management and was promoted to President of Meritz Securities in December last year.

A Meritz Financial Group official explained, "Practical integration has enabled efficient capital allocation centered on the holding company," adding, "We will promote financial flexibility across the group and maximize synergy to actively explore opportunities for new business ventures for future growth."

Below are the detailed personnel changes for Meritz Financial Group in 2023.

◆ Meritz Financial Holding

▶ CEO and Group Liability Division Head Kim Yong-beom ▶ Group Operations Division Head Choi Hee-moon

▶ Group Liability Division Kim Kyung-hwan (also Head of Strategic Sales at Meritz Fire & Marine Insurance) ▶ Group Operations Division Kim Jong-min (also Head of Asset Management at Meritz Fire & Marine Insurance) ▶ Group Operations Division Yeo Eun-seok (also Head of Project Finance Business Division at Meritz Securities)

▶ Group Liability Division Kim Jung-il (also Head of Personal Sales at Meritz Fire & Marine Insurance)

▶ Group Liability Division Eun Sang-young (also Head of TM Business Division at Meritz Fire & Marine Insurance) ▶ Group Operations Division Kwon Dong-chan (also Head of Trading Division at Meritz Securities)

▶ Lee Dong-jin

▶ Kwak Jong-wook ▶ Hong Tae-hee

◆ Meritz Fire & Marine Insurance

▶ CEO Kim Jung-hyun

▶ Head of Support Office Seon Wook

▶ Head of Auto Insurance Lee Guk-jin ▶ Head of Product Strategy Hwang Doo-hee ▶ Head of GA4 Division Jung Hak-soo

▶ Head of Long-term U/W Team Park Ho-kyung

▶ Kim Jung-il ▶ Oh Jong-won ▶ Lee Jong-hwa

▶ Kim Sang-woon ▶ Eun Sang-young ▶ Jung Hak-soo ▶ Ham Seung-hee

▶ Kim Ui-gyeom ▶ Oh In-gyo ▶ Jeon Woo-sik ▶ Hwang Hyun-soo

◆ Meritz Securities

▶ CEO Jang Won-jae