Shinhan Financial Group said it has narrowed the first-round candidate pool for the next heads of Shinhan Bank and Jeju Bank, whose terms end later this year. The group expanded the role of each bank’s executive candidate recommendation committee, involving it directly from candidate recommendations to final selection. Shinhan Financial’s committee will finalise the shortlist in November, conduct in-depth interviews and evaluations, and recommend final candidates in early December.

Woori Financial Group has begun management succession procedures to appoint the next head of Woori Bank. Woori Financial Group said it launched the process after holding a meeting of its subsidiary CEO candidate recommendation committee. The company plans to expand the role of the bank executive candidate recommendation committee, add a new review of management performance, and involve external specialist organisations to verify performance from a market perspective. It will also set detailed standards and procedures in advance.