Korean Citibank has nominated Kim Kyung-ho, the head of its Corporate Banking Group, as the sole candidate for the next CEO. This transition comes as current CEO Yoo Myung-soon steps down after leading the bank for nearly six years.
On September 22, the bank's Executive Candidate Recommendation Committee held a meeting and recommended Kim as the final candidate for the CEO position.
The committee stated that it considered Kim's long-term management vision and strategy, communication and leadership skills, and management expertise in making its decision.
If appointed, Kim will follow in the footsteps of former CEO Park Jin-hwa and current CEO Yoo Myung-soon, both of whom also came from the Corporate Banking Group. Kim joined Korean Citibank in 2001 and has held various positions, including roles in corporate finance and financial institution sales, before overseeing the Corporate Banking Group since 2021.
Since exiting the consumer banking sector in 2022, Korean Citibank has restructured its business to focus on corporate finance and capital markets. The bank is concentrating on leveraging Citigroup's global network to support domestic companies' overseas expansion and enhance financial services for multinational corporations.
The bank's performance has also improved, with a net profit of 186.8 billion won in the second quarter, an 86% increase from the same period last year, marking the highest quarterly profit in its history. The cumulative net profit for the first half of the year reached 319.6 billion won, up 75% year-on-year.
Kim is expected to be officially appointed as CEO on October 27, following a shareholders' meeting and board of directors' approval. Yoo had previously announced plans to retire at the end of his term on July 30.
* This article has been translated by AI.
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