Kwon Kwang-seok has joined CL Asset Management as its chairman. He has acquired a 10% stake in the firm and plans to expand its operations beyond traditional equity management into alternative investments and real estate.
According to the financial investment industry on October 6, Kwon was recently appointed as chairman of CL Asset Management.
Kwon also directly acquired a 10% stake in the company. He explained the rationale behind the acquisition, stating, "It can be seen as part of responsible management as an executive in asset management rather than anything else."
CL Asset Management, established about six years ago, has primarily focused on equity management. Kwon aims to diversify the company's operations into alternative investments and real estate.
Kwon stated, "CL Asset Management has six years of experience and has mainly operated in the equity management sector. We have plans to diversify our capabilities into alternatives and real estate to foster growth."
To support this initiative, the company has also strengthened its workforce. Kwon noted, "Recently, we have bolstered our team with experienced personnel in alternative investments. As assets increase, we will face a labor shortage, and as we enhance our workforce, our assets will grow in a virtuous cycle." He indicated that future staffing increases would naturally align with the growth of managed assets.
CL Asset Management was founded in 2020. Previously, Main42 acquired 90% of the shares, including those from former CEO Park Jin-seok and other investors.
The acquisition of management rights at CL Asset Management involved real estate developer Main42, which secured a 50% stake to become the largest shareholder, with Yu Su-jin, the CEO of Main42, acquiring 40% in a personal capacity.
Born in 1963, Kwon has a background in commercial banking, having served as the deputy head of Woori Bank's IB Group before being appointed as the CEO of Woori PE at the end of 2017. He led the acquisitions of Aju Capital and Aju Savings Bank and later held positions as the head of the Credit and Guarantee Business at the National Agricultural Cooperative Federation and as the president of Woori Bank. He was also shortlisted for the position of chairman at KB Financial Group and currently serves as an outside director at Korea Zinc.
* This article has been translated by AI.
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