Ham Young-joo, vice chairman of Hana Financial Group and former president and chief executive of KEB Hana Bank, has been nominated as the new chairman to spearhead the leading Korean financial group in digital transition.

Hana Financial Group said Tuesday that its chairman nomination committee nominated Ham as sole candidate to succeed Kim Jung-tai who has been at the helm for a decade. The choice was made among a short list of five candidates – Ham, Hana Bank President Park Sung-ho, Hana Capital President Yoon Kyu-seon, former Bain & Company Korea chief Lee Sung-yong, and former Korea Investment Corp. Chairman Choi Hee-nam.

Ham was recognized for his contribution in leading growth at Hana Bank such as by successfully managing takeover of Korea Exchange Bank as CEO between 2015 and 2019.

“Ham has led Hana Financial Group to achieve business performance in terms of stability and profitability,” the nomination committee said, “and has shown well-integrated and outstanding leadership in organization operation.”

It also added that Ham is the right person to lead rapidly changing future and digital transformation.

Ham will be officially appointed as new chairman for a three-year term after approval by shareholders and board next month. His name would have to be cleared from two ongoing trials regarding liability over mis-selling and irregular hiring.

Shares of Hana Financial Holding opened Wednesday 1.6 percent higher at 46,900 won.

By Kim Yoo-shin and Lee Eun-joo

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