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Hana expands Korean New Deal investments
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Financial firms brace for shareholders meeting
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Hana chairman may replace bank CEO
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Korean banking groups at risk of losing governance autonomy
Posted : 2021-02-19 08:45
By Lee Min-hyung
Financial holding firms here will have less and less leeway in setting key agendas, as their largest shareholder ― the National Pension Service (NPS) ― is on track to widen its influence on their top management.
The NPS is the largest shareholder of the nation s top four financial firms ― KB, Shinhan, Hana and Woori ― according to the latest data. The pension fund obtained more than 9 percent stakes in each of the companies as of the end of September 2020. This figure is slightly below the legal limit of 10 percent. Under the local financial law, a single investor cannot purchase more than a 10 percent stake in a single financial holding firm.
Hana Financial chair may clinch fourth term
Posted : 2021-02-16 16:19
Updated : 2021-02-16 16:54
From left are Hana Financial Group Chairman Kim Jung-tai, Hana Financial Group Vice Chairman Ham Young-joo, Hana Financial Group Deputy President Park Sung-ho and former Citibank Korea CEO Park Jin-hei.
By Lee Kyung-min
Hana Financial Group Chairman Kim Jung-tai, 69, was among four candidates shortlisted for the group s next chairman, the group said Tuesday.
The other three are Vice Chairman Ham Young-joo, Deputy President Park Sung-ho and former Citibank Korea CEO Park Jin-hei.
The three-term Hana Financial chairman making the list is in line with industry expectations that he would be able to clinch a fourth term, which will be limited to one year due to his age. The group s rule stipulates that its chairman must be under 70 years of age.