Former CEO Jogabjoo Returns to Management at Aegis Asset Management

Jogabjoo, former CEO of Aegis Asset Management, is returning to the company's management front line after stepping down five years ago. There are expectations that this move could also impact the ongoing process of transferring management control.

On April 27, Aegis Asset Management announced that the board of directors will convene on April 28 and plans to appoint Jogabjoo, former head of new business development, as the new CEO.

Jogabjoo joined Aegis in 2011 and served as CEO from 2015 to 2021. Even after resigning as CEO, he remained involved in major decision-making as head of the new business development division.

Jogabjoo stated, "I will do my utmost to ensure both the protection of client assets and the stable growth of the company by maintaining close communication with key stakeholders, including institutional investors."

Since Jogabjoo is also a key shareholder with approximately 12% stake in Aegis, changes are anticipated in the process of selling Aegis to Hillhouse Investment. Typically, in mergers and acquisitions (M&A) transactions, new management is established after the acquisition is finalized. However, it is considered unusual for an existing key shareholder to return as CEO during the ongoing process.

Regarding the stake sale, Jogabjoo has stated that he will delegate related matters to the shareholder representative and will personally oversee the company's key business operations to prevent any disruptions during the sale process.

Jogabjoo, designated CEO of Aegis Asset Management. Provided by Aegis Asset Management

원본보기 아이콘

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.