Truston Asset Management said on the 27th that it held a regular shareholders meeting and appointed Vice President Lee Sung-won as the new CEO.
Accordingly, Truston will shift from the existing system of co-CEOs Hwang Sung-taek and Kim Young-ho to a three-person co-CEO system that includes CEO Lee Sung-won. Truston said the decision was made to respond to the rapidly changing financial market environment and to enhance expertise by institutional sector.
The new CEO, Lee, is a former journalist who worked as a reporter and on the desk at Maeil Business Newspape and joined Truston in 2012. As head of corporate strategy, Lee has mapped out mid- to long-term growth drivers, and, in particular, served as head of the Special Situations (SS) institutional sector, which oversees activist fund management, contributing to the company's external expansion, according to Truston.
New CEO Lee Sung-won said, "We will not only improve client returns, which is the essence of the asset management business, but also strengthen communication with a range of stakeholders to further solidify our standing as a trusted asset manager."