NH Investment taps two co-CEOs to sharpen competitive edge

Shin Jae-wook and Bae Kwang-su nominated as co-CEO candidates; dual-leadership structure to strengthen accountability and drive post-IMA growth

Bae Kwang-su, NH Investment co-CEO candidate [NH Investment]

Shin Jae-wook, NH Investment co-CEO candidate [NH Investment]

NH Investment's executive candidate recommendation committee nominated Shin Jae-wook, head of the real estate and infrastructure division, and Bae Kwang-su, head of the wealth management division, as its final co-CEO candidates, the brokerage said Friday. The company plans to seek approval from a special board meeting before formally appointing the two executives at an extraordinary shareholder meeting on June 30.

The nominations follow NH Investment's decision to shift from a single-CEO structure to a co-CEO model. The firm has been restructuring its leadership to expand its business scale, respond to shifting market conditions, and strengthen divisional expertise and accountability — all amid its push to secure a foothold in the integrated management account, or IMA, business this year. The committee said it reviewed a broad pool of candidates, including internal talent and industry executives, before settling on the two nominees.

Shin, nominated to oversee investment banking, asset management, wholesale operations and companywide administrative functions, is a corporate finance specialist with extensive experience and a proven track record across NH Investment's core business divisions. The committee said Shin is the right person to lead the firm's medium- and long-term growth strategy — driving IMA expansion, identifying new growth engines, diversifying revenue streams and upgrading organizational management.

Bae, nominated to lead wealth management, digital, channel and research operations, is a wealth management specialist who has expanded the firm's retail customer base and strengthened its sales competitiveness. The committee said Bae is well positioned to further sharpen the firm's wealth management capabilities, upgrade its customer-centric asset management framework and drive retail growth through digital-based sales innovation.

After the transition to a co-CEO structure, NH Investment plans to operate a strategic resource allocation committee to maximize synergies across business divisions in its capacity as an IMA operator. Key management decisions — including major investments and capital deployment — will be managed on a companywide basis, while cross-divisional matters will be handled with clearly defined roles and responsibilities.

"We decided to adopt a co-CEO structure at a time when the company is entering a new phase of growth, including the IMA business push, in order to deepen divisional expertise and strengthen accountability," NH Investment said. "We expect Shin Jae-wook, overseeing overall business operations, and Bae Kwang-su, leading the retail division, to further strengthen the company's competitive edge and drive sustained growth, each drawing on their own expertise and experience."

NH Investment decided on April 24 to move from a single-CEO to a co-CEO structure. The company said the leadership overhaul reflects the expansion of its corporate scale and diversification of its business structure following its entry into the IMA business, and is designed to allow the firm to respond more proactively to growth opportunities in the capital markets.

th5@heraldcorp.com