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August 23, 2019

NH-Amundi Asset Management taps CMO as CEO

PUBLISHED : July 31, 2019 - 15:05

UPDATED : July 31, 2019 - 15:15

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Seoul-based NH-Amundi Asset Management has tapped its incumbent chief marketing officer Bae Young-hoon as its new chief executive officer.

Bae, 58, was named to head the company by a nomination committee on July 30. The decision awaits shareholders’ approval on July 31 at 5 p.m.

NH-Amundi Asset Management CEO nominee Bae Young-hoon

Founded in 2003, NH-Amundi is a subsidiary of holding firm NongHyup Financial Group, which owns a 70 percent stake. Paris-based Amundi Asset Management holds 30 percent. NH-Amundi is currently the seventh-largest asset management firm in Korea by assets under management, which stands at 36 trillion won ($30.4 billion).

Bae started his career at National Agricultural Cooperative Federation in 1985 and had been working at NongHyup Bank until he joined NH-Amundi in 2017 to head its marketing division.

He earned a master’s degree in business from Hanyang University and a bachelor’s degree from Chonnam National University.

Bae will replace Park Kyu-hee, who stepped down as he was named for the audit committee of NACF in June 2019. NACF wholly owns NongHyup Financial.

By Son Ji-hyoung (consnow@heraldcorp.com)

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