As the KOSPI keeps setting a record high day after day and stands on the verge of breaking through "Sacheonpi" (KOSPI 4,000), a significant number of chief executive officers (CEOs) at major domestic securities firms are nearing the end of their terms between the end of this year and early next year.
Thanks to strong results across the securities industry this year, the prevailing view in the market is that most CEOs will smoothly win another term.
According to the financial investment industry on the 26th, the CEOs of 7 out of the top 10 securities firms in Korea will successively complete their terms between the end of this year and March next year.
In December this year, ▲ Kim Seong-hyeon and Lee Hong-gu, CEOs of KB Securities, and ▲ Kang Seong-muk, CEO of Hana Securities, are set to end their terms, and in March next year, ▲ Kim Mi-seop and Heo Seon-ho, CEOs of Mirae Asset Securities, ▲ Kim Seong-hwan, CEO of Korea Investment & Securities, ▲ Yun Byeong-un, CEO of NH Investment & Securities, ▲ Jang Won-jae, CEO of Meritz Securities, and ▲ Oh Ik-geun, CEO of Daishin Securities Co., will complete their terms.
Mirae Asset Group effectively confirmed another term as it decided on the 24th, along with an organizational reshuffle, to maintain the co-CEO system of Kim Mi-seop and Heo Seon-ho.
Kim Seong-hwan, CEO of Korea Investment & Securities, is assessed to have a very high chance of another term after delivering results such as the industry's first operating profit surpassing 1 trillion won in the first half of this year. Korea Investment & Securities plans to carry out executive appointments around the second week of December.
Oh Ik-geun, who has led Daishin Securities Co. through three consecutive terms since 2018, is also seen as a strong candidate for another term, given achievements such as designation as a comprehensive financial investment business entity and preparations to leap to a mega-investment bank (IB).
Although NH Investment & Securities improved its performance with first-half operating profit up 12% year over year, CEO Yun Byeong-un faced differences between NH NongHyup Financial Holdings and the National Agricultural Cooperative Federation during the president selection process last year. As a result, governance issues could act as a variable.
KB Securities, which is scheduled to make personnel moves in early December, is said to be likely to maintain the co-CEO system of Kim Seong-hyeon and Lee Hong-gu. If Kang Seong-muk, CEO of Hana Securities, successfully completes approval for the currently pursued issuance bill business, there is a view that Kang could either move to another position within the holding company or serve one more term in the current post to stabilize the business.
Jang Won-jae, CEO of Meritz Securities, is in the first term, and with first-half net profit up 20% from a year earlier, setting a record half-year performance, the view is that the likelihood of another term is high.
Meanwhile, Park Jong-mun, CEO of Samsung Securities, Kim Jong-min, CEO of Meritz Securities, and Eom Ju-seong, CEO of Kiwoom Securities, have terms running until March 2027, and Lee Seon-hun, CEO of Shinhan Investment & Securities, has a term until December next year, making immediate changes unlikely.