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(Seoul=Yonhap Infomax) Gyeong Eun Park = Samsung Group's major financial affiliates have announced their regular executive appointments, with Samsung Securities Co., Ltd. reinforcing stability by retaining the heads of its core Wealth Management (WM), Investment Banking (IB), and Digital divisions.
A total of five new executives were promoted in this round of appointments.
On the 26th, Samsung Securities named Yang Wan-mo, head of the Gangnam Regional Headquarters (formerly Managing Director), as its new Executive Vice President. Yang previously led the HR team and served as Head of HR Support until last year.
Key figures overseeing the company’s main business lines were also promoted to Managing Director.
Oh Sun-mi, newly appointed Managing Director, previously led the SNI Family Office Center 1 branch. To better serve VIP clients, Samsung Securities opened two dedicated family office branches in January last year, staffed by veteran private bankers and positioned as core centers for high-net-worth asset management.
Jang Hyo-sun, also promoted to Managing Director, most recently worked with the Financial Competitiveness Enhancement Task Force. Jang began her career as a securities and insurance analyst at Shin Young Securities in 2002, later joining Meritz Securities before moving to Samsung Securities’ Research Center in 2005. She subsequently led the Global Equities Team, expanding the firm’s overseas equity research capabilities.
Choi Hwa-sung, Head of Alternative Investments, and Cho Je-young, Head of Public Relations, were also promoted to Managing Director.
Stability was the key theme of this year’s executive reshuffle at Samsung Securities. The heads of major business lines retained their positions.
Executive Vice President Park Kyung-hee, who oversees the WM division as its control tower, led the unit to another record year amid a bullish stock market. As of the end of Q3, retail client assets reached 393.5 trillion won ($299 billion), up from surpassing 300 trillion won ($228 billion) in Q1 last year, now approaching the 400 trillion won ($304 billion) mark in just over a year.
The number of high-net-worth clients with assets exceeding 100 million won ($76,000) has also continued to rise each quarter, surpassing 300,000 in the first half of this year and expanding by an additional 43,000 in Q3 to a total of 343,000 clients.
Park Kyung-hee was appointed as an inside director at Samsung Securities in March, becoming the company’s first female registered executive director.
Lee Chung-hoon, who moved to head the traditional corporate finance division last year, also delivered solid results in 2023. Major deals in Q3 included acquisition financing and advisory transactions for Busan City Gas, Dining Brands Group, Classys, and PIE Mezzanine. The firm also served as IPO lead manager for K Bank and MyRealTrip.
Executive Vice President Lee Chan-woo has further strengthened the company’s presence in the pension and digital sectors. The scale of retirement pensions grew from the mid-10 trillion won ($7.6 billion) range last year to 18.9 trillion won ($14.4 billion) by Q3 2023, while personal pension balances increased to 8.2 trillion won ($6.2 billion).
Samsung Securities has also targeted digital VIP clients who prefer remote consultations over branch visits, enhancing its digital wealth management platform and expanding its digital private banker (PB) system.
“This round of executive appointments was based on a performance-oriented principle, promoting outstanding talent who contributed to improved management results,” Samsung Securities said. “Through these appointments, we aim to further strengthen our business competitiveness and growth foundation.”
Following the executive reshuffle, Samsung Securities plans to announce organizational restructuring and further personnel appointments in the near future.
gepark@yna.co.kr
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