Hana Financial Group has selected the head of its flagship lender to become the new chairman.
The group's nomination committee said Kim Jung-tai, the current president and CEO of Hana Bank, is the most qualified to lead the holding company in the future.
Kim is expected to be recommended to the board of directors as the sole candidate for the chairmanship early next month, with the general shareholders meeting set for March 23 to approve his appointment.
Once approved, the new chief will take over for Kim Seung-yu at a critical time, as Hana is pushing to raise its profile in the financial market with the acquisition of Korea Exchange Bank.
Kim started his career by working for Seoul and Shinhan banks in the 1980s, before helping to establish Hana Bank in 1992. He was vice president of Hana Financial and head of Hana Daetoo Securities Co. before being named Hana Bank CEO in 2008.
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