On June 12, the financial investment industry reported that NH Investment & Securities' Executive Candidate Recommendation Committee has nominated Shin Jae-wook, Head of the Real Estate Infrastructure Division, and Bae Kwang-soo, Head of the WM Division, as candidates for the next dual CEOs. Their appointment will be confirmed at an extraordinary shareholders' meeting on June 30, making it the first time the company will operate under a dual CEO system since its inception.
NH Investment & Securities was established in January 2015 after Woori Investment & Securities was acquired by NH Financial Group in June 2014 and merged with NH Nonghyup Securities. The merger symbolized the birth of a major securities firm that combined the dual pillars of enhancing large-scale IB and strengthening retail competitiveness.
The first leader after the re-establishment was Kim Won-kyu, who served as the CEO from December 2014 to March 2018. He focused on solidifying the foundation during the company's early days, prioritizing the integration of different organizational cultures and systems, and is credited with helping the merged entity establish itself in the market.
The second leadership era was led by Jeong Young-chae, who successfully served three terms from 2018 to 2024, leading the company for nearly six years. He is recognized for elevating NH Investment & Securities' IB competitiveness to the highest level in the industry, achieving significant results in initial public offerings (IPOs), mergers and acquisitions (M&A), and real estate finance, while diversifying the company's revenue structure and breaking records for maximum profits. However, he also left behind challenges related to strengthening internal controls following the Optimus Fund incident.
The subsequent leadership under Yoon Byeong-woon focused on expanding the business portfolio. In March of this year, the company received approval from the Financial Services Commission for its comprehensive investment account (IMA), becoming the third IMA operator in the industry after Korea Investment & Securities and Mirae Asset Securities. The IMA business is seen as a new revenue source for large-scale IBs, broadening NH Investment & Securities' growth foundation.
The upcoming fourth leadership era is distinct from previous ones, as it introduces a dual CEO system for the first time, separating responsibilities for IB and WM. While this transition may necessitate adjustments in management strategies and organizational restructuring, both candidates have grown within the company, having previously worked at LG Investment & Securities, Woori Investment & Securities, and NH Investment & Securities, which is expected to contribute to organizational stability.
Shin Jae-wook is regarded as an expert in real estate finance. He has handled IPOs, asset-backed securities (ABS), and project financing (PF) at LG Investment & Securities and has held positions at Korea Investment & Securities and Hanwha Securities before serving as the head of the Real Estate Finance Division and the IB2 Division at NH Investment & Securities. He is seen as well-suited to oversee the expansion of the IMA business and the development of new growth drivers, encompassing operations and wholesale strategies.
Bae Kwang-soo, a wealth management expert, has experience in industry analysis, sales, and the Premier Blue organization after joining LG Investment & Securities and working at Woori Investment & Securities and NH Investment & Securities. He was appointed head of the WM Division last year and is expected to strengthen retail competitiveness through customer base expansion and the enhancement of digital asset management systems.
Following the transition to a dual CEO system, NH Investment & Securities plans to operate a strategic resource allocation committee to enhance synergies between business divisions as an IMA operator. This committee will manage key management decisions regarding major investments and capital utilization from an integrated company perspective, clarifying roles and responsibilities for collaborative efforts.
With its status as the third IMA operator in the industry secured, the new management's challenge will be to translate this into tangible growth drivers. As NH Investment & Securities marks its 10th anniversary since re-establishment, the industry is keenly observing whether the company can successfully navigate the intensified competition in the IB sector and the digital transformation of the retail market through its dual CEO system.
* This article has been translated by AI.
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