Bae Jae-kyu, CEO of Korea Investment Trust Management, has successfully been re-elected for a third term. This is interpreted as recognition for contributions to the growth of exchange-traded funds (ETFs) and improvement in performance.
On the 11th, Korea Investment Trust Management announced that the executive candidate recommendation committee has exclusively recommended Bae as the final candidate for CEO. Bae is expected to serve a one-year term after the shareholders' meeting at the end of this month.
The recommendation committee evaluated Bae, saying, "He has contributed to solid management and expansion of the company as its CEO from 2022 until now."
After taking office, Bae changed the company's ETF brand from KINDEX to ACE and set the business in motion. The scale of Korea Investment Trust Management's ETFs, which was 6.3639 trillion won at the beginning of 2022, has increased to 14.8739 trillion won as of February this year. The market share rose from 5.1% to 8.0%, and the company ranked third, surpassing KB Asset Management. The first place is Samsung Asset Management, and the second is Mirae Asset Global Investments.
Profit growth is also steep. The cumulative operating profit of Korea Investment Trust Management from the first to the third quarter last year was 30.4 billion won, which is similar to the operating profit for the entire year of 2023 (30.5 billion won).
Meanwhile, Bae was born in 1961 and graduated from Yonsei University with a degree in economics. He later worked at SK Securities and Samsung Asset Management. After serving as the head of the ETF management department, managing director of the ETF management department, executive director of passive management, and vice president of management overall at Samsung Asset Management, he took up the position of CEO of Korea Investment Trust Management in 2022.