Vice Chairman Choi Hee-moon, transfer to head of group operations division
Efficient integration of ‘One Meritz’… A generational change took place
Vice Chairman Choi Hee-moon, who had led Meritz Securities for 14 years, stepped down from his position as CEO and merged. Meritz Financial Group (138040)He will move to and take charge of overall group operations. President Wonjae Jang, the head of the Sales & Trading division, was appointed as the new CEO of Meritz Securities.
Meritz Financial Group held a board meeting on the afternoon of the 20th and conducted executive personnel appointments that included the above. This is the first executive appointment since the ‘One Meritz’ system of Meritz Financial Group, which was newly launched by integrating Meritz Fire & Marine Insurance and Meritz Securities into 100% subsidiaries in the first half of this year.
Vice Chairman Choi has served as CEO of Meritz Securities since February 2010 and is said to have led the company’s growth. Meritz Securities’ total capital has grown rapidly from 525.2 billion won in 2010 to 5.6919 trillion won in 2022, increasing its size nearly 10 times under Vice Chairman Choi.
Executives who have held key positions at Meritz Securities along with Vice Chairman Choi are also scheduled to join the newly established group management division within the holding company. Vice President Yeo Eun-seok, head of the project finance business division, and Managing Director Kwon Dong-chan, head of the trading division, concurrently serve as executives of the holding company’s group management division.
An official from Meritz Securities explained, “The appointment follows the policy of ‘establishing a holding-centered management system,’ which signifies the completion of the group’s practical integration,” and added, “Vice Chairman Choi Hee-moon will be positioned as the holding company to implement efficient integration.”
Meritz Securities explained that while appointing a new CEO, it is actively recruiting young and promising talent, while also selecting CEO candidates for the next-generation holding company. The industry evaluated that Meritz is preparing for a generational change in order to transform the entire group into a younger organization while promoting continued management stability.
In addition to selecting President Jang as the new CEO, Meritz Securities also appointed Executive Director Gye-ryong Jeon as Head of Management Support and Chief Financial Officer (CFO), and Executive Director Geun-young Kim as Head of Information Security Division. Managing Director Kim also serves as an executive in charge of IT for the holding company.
New CEO Jang graduated from the Department of Mathematics at Seoul National University. He started as Managing Director of Risk Management at Meritz Fire & Marine Insurance in 2015 and served as CRO and Vice President of Risk Management at Meritz Fire & Marine Insurance until 2020. He has been in charge of the S&T division since 2021 and was promoted to president last year.
A Meritz Securities official said, “(New CEO Jang) is a financial expert who has achieved outstanding performance in core financial tasks such as financial engineering, asset management, and product planning, and has contributed greatly to Meritz Securities’ continued performance while leading major business units.” explained.