[Sinyuncheol financial newspaper reporter Korea] was officially inaugurated after a crude mercenary SFG new president last 23 days the shareholders' meeting. Shinhan Financial Group held a general shareholders' meeting elected a former mercenary Joe Shinhan Bank as its new president. President Joe dwaeteotda affairs held in January Holdings Chairman Nomination Committee prior to the last meeting Han Dongwoo successor.
Shinhan Financial Group, with the inauguration of President Joe complete the generational shift. Was elected president in the wiseongho Shinhan Card, Shinhan Bank, Shinhan Financial Group vice president was vacant position has been elected, the Woo Youngung jinokdong Shinhan Bank buhaengjang.
Personnel gathered attention in addition to Cho is above haengjang. Shinhan Bank was a viable candidate at the time in 2015 when the competition was the President of this composition Cho and Yangjiang. But Cho La more like the right person at the time of the interview, and the president was elected stepped haengjang time.
Both the president and the head of a group of core banking affiliates bakkwimyeonseo but the time may come that the side effects of rapid change, while senior figures in the verification of other subsidiary heads reduced as much as possible it is flat. Cho complete the generational shift has said, "I will open new horizons of Finance" in his inaugural address, saying the aspirations established within the goal, "I will increase one such subsidiary, including one division."
◇ It 'Uncle Joe' ready to move on Shinhan
Article mercenaries President visited the main subsidiaries from the time nominee status and received a briefing. Watching the scene from early in order to achieve the mentioned goals in his inaugural address to the spiral preparations. It was known to have a degree of free and easy nature to be nicknamed 'Uncle Joe' himself a tank with strong business momentum enough to say, "work like a mercenary" president.
The 2020, which finished a full subsidiary from the beginning his first term (3 years) I was instructed to submit the "2020 Project" containing a long-term business plans and performance objectives. The meeting Joe is moving fast from the start, because there are many challenges for maintaining the position of the leading financial groups. Because it harmonizes external factors such as low interest rates and low growth trend of internal factors and American interest rates, Saad batch of Chinese economic retaliation As the business environment is deteriorating day by day, and. Cho is looking for a new food in the global digital as a way to overcome it.
◇ future "digital Shinhan 'Contrast
Global digital and multi-disciplinary Shinhan Financial Group continuously shown interest. In Article mercenaries President also his inauguration speech that "will go after the historic proud Sanya global and digital growth engines", "Shinhan is one such one truly achieved the nine years consecutive profit 1. Financial Group" and added in this sector as much as you noted, there deulyigo the ball.
Especially the digital sector is showing a continuous interest from Shinhan Bank childhood. Shinhan Bank in May last year, which was Division President of Shinhan Bank was established in the beginning of the big data centers. Jochida to strengthen the digital sector. At the time the organization was in the marketing department under elevated to the 'center', was independent. Collect existing customer segmentation, marketing support, staff was responsible for product development, system operations, such as business and currently 18 people working. Last year was also aimed at "business model excavated utilizing Big Data 'in September signed the Korea Advanced Institute of Science and Technology (KAIST) and' Big Data industry-academia co-finance research 'Convention.
Division President proposed the concept of 'digital Shinhan. Division President at the inauguration, "while the arrival is the 4th Industrial Revolution connections all around us and there is a boundary of up disappearing," he said, "it through a digital transformation beyond the financial boundaries of upgrading to digital Shinhan nagagetda" there bars.
◇ The global scalability that made president
'GPS Smart Speed-Up' which puts the topic of this Article mercenaries president at the time, Shinhan Bank took office in 2015. This is the beginning of the letter 'G' means the globalization (Globalization). This interest in such Global is one of the background that could win the fierce internal competition this Article chairman. Former President emphasized handongwoo global expansion strategy through sector because it is. A president in September last year, Shinhan its 15th anniversary ginyeomsa "Global business is a new growth engine that will lead the future of Shinhan Bank. Be sure to urgency and the original intention of being successful, we must challenge the global market. In particular, do not settle for a mere appearance expansion had preached the importance of thoroughly that you will need to make a 'competitiveness through localization' may be selected from local customers. "
Joe was a stand out performance of the global meeting place since the days of President candidate, had the only overseas work experience of the past president of the Nomination Committee is one of four candidates the president-elect 0 months. Haengjang Joe has worked for about three years in New York since 1992, and he worked in the last two years, the New York branch manager since 2007. New York President duty at the time bar is shown an ability to perform key tasks, such as local financing despite the difficult times in the global economy, the global financial crisis.
Article mercenaries President had announced their motivation during 2020 was inaugurated as CEO reap 20% of the total net profit of Shinhan Bank in overseas markets. And it has expanded its global network more than doubled in two years to get it done.
Especially in Asia and naetneunde accomplished remarkable point is the growth in the emerging markets of Japan, Vietnam and developed markets. In the Vietnamese market Joe mercenaries president who achieved childhood haengjang growth is referred to as "a textbook case of overseas localization" in the domestic banking industry. As well as specialized products tailored to local unveiled a new Internet banking service that combines the pin-tech content, such as 'Sunny Bank Vietnam (Sunny Bank Vietnam)'. Currently, Shinhan Bank held the largest network among foreign banks in Vietnam.
In Japan it showed a growth Shinhan Bank Japan Corporation (hereinafter SBJ Bank). SBJ Bank is a foreign bank subsidiary, which only treats the retail banking (financial services targeting individuals and private operators) in Japan. Pre-tax profit in five years, the corporation launched has increased five-fold.
Cho plans to expand its global expansion accomplished from haengjang days. Joe was presented to the next President that "promote harmony for its own growth and acquisitions, etc. Come to further strengthen the synergies between group companies made a second, third, Shinhan Financial Group on the world stage" in its approach to the global market.
◇ Shinhan crisis resolved, including leadership opportunities Boyle
Situation only mercenaries President Joe olratji as head of the leading financial groups are not so manman. There's a number of challenges, including water in bulk from one performance to the Shinhan crisis' finish. This is how it is processed ago serve as a test competency second term.
Shinhan Financial Group and Mercury 8 consecutive years in terms of revenue among domestic financial holding. Last year, earnings are recorded net profit of 2.7748 trillion won. Han Dongwoo that former president maintains performance throughout the 1st term, but recently, KB Financial Group, the No. 1 show a big growth in the aqueous difficult than ever are elements have the burden to Cho.
It is a double-edged sword viscosity of the final Shinhan crisis "passed into the hands of the Chairman Joe positives and negatives mixed. Shinhan crisis is a case accusing the prosecution of former Lee Baeksun Shinhan Bank and Shinhan raeungchan former President Shin Sanghun former president holding a breach of trust and embezzlement charges. After the prosecution had accused the former president and the new, such as the former haengjang, before God in the first instance, president convicted on charges of embezzlement and violation of the Financial Holding Company Act, 261 million won. Breach of trust due to unfair lending was acquitted. In the second trial it was later commuted to admit, fined guilty only for embezzlement. The Supreme Court came to the ball, only three years since the last three months the second trial verdict. Legal dispute itself is new, but the former president paid primer of another dispute pending stock options to finish. Shinhan Financial Group was pending before a new president until the end of the rights exercise took place behind the former president to the gods in the 2005-2008 Stock Option 23 Shinhan crisis jwotjiman the 17,678 shares trial. Currently more than 20 million in value.
If you think a few years out of good news in that embellish off the burden was on the element SFG but resolved deodyeo jindamyeon can also act as a negative worth questioning the leadership to finish building Shinhan crisis Cho hands.
A blend of rare Holding Chairman and CEO successes in the financial system are also holding the elements to worry about. There are domestic financial holding account for the most revenue, most banks have greater influence in the Bank. In the case of KB Financial Group had sung accompanied by the results of resignation to the conflict Holding Chairman and CEO, and Shinhan crisis' look too wide will trigger a conflict between the executive. But Joe mercenaries president and wiseongho haengjang is ssolrigo whether in that form haewatdaneun old rival Old proceed with the interests of the industry seamlessly blend the two.
Wiseongho haengjang was consistently mentioned against competition whilst Han Dongwoo SFG president. In particular, there were many in the industry if you have two different management style expected in the future be a possibility for discord.
However, Shinhan Financial Group is a position that is a problem for these concerns. Since former President Han Dongwoo "and holding the shareholders (the bank) 100%, there has insagwon whether the number is not good between the president and the haengjang," he said. Furthermore the term of office of two years, Shinhan Bank inde wiseongho haengjang this case to challenge the reappointment Term President Joe mercenaries can influence the institutional basis of a three-year status is also provided.
Haengjang above have also to their "not an industry that has concerned. If the dreaded division came to me totally wrong. Article mercenaries president and will be a conversation at any time, "he said. In particular, "Many people are concerned I would rather not happen the degrading situation is so lovely things more carefully had such a resolution," he said.
◇ become a world-class financial group orders
President Joe mercenaries showed the view that several obstacles, but must make the crisis as an opportunity to leap forward. Joe said, "and come the fourth round of industrial revolution era connecting all around us and there is a boundary of up disappearing" and "Do not look to change only the crisis should be guided as an opportunity to leap to generate new customers and markets." .
To this end, Cho emphasized the digital switchover and the original (one) Shinhan platform way to do this. He said, "I will achieve a leading Asian financial group and further become a world-class financial group" and "We will not waver in any crisis, build robust systems and processes to grow sustainable," he said.
'Foresight (先見), prerequisite (決), followed (行)' I emphasize this need, which is a management policy that emphasizes the recent SFG. "One (One), Shinhan 'suggesting a further strengthening strategies, looking in the direction of one step ahead of the time in holding it fast decisions in each subsidiary, moved swiftly acting muscles spanning 10 years, leading financial groups' presence to promote.
Cho was given three and integration and innovation △ empowerment of organizations covering the territorial expansion △ financial and non-financial in the first global challenges △ domestic goods and services to which the group should be prepared.
Joe new president is, "we must constantly explore new avenues other maps allow customers to be a fan (Fan) Shinhan meet" and "equipped with advanced ICT (Information and Communication Technology) skills and organizational Digital Shinhan according to the firm roadmap go to upgrade, "he ordered the group.
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