NH Investment Securities has recommended Shin Jae-wook (신재욱), head of the real estate and infrastructure business division, and Bae Gwang-soo (배광수), head of the wealth management (WM) business division, as candidates for its next chief executives. It is part of procedures to shift from a sole CEO system to a co-CEO system.

NH Investment Securities' executive candidate nomination committee said on June 12 it recommended Shin and Bae as final CEO candidates under the next co-CEO system.

NH Investment Securities plans to proceed with procedures to appoint the chief executives at an extraordinary shareholders meeting on June 30 after obtaining approval at an extraordinary board meeting.

The recommendation follows NH Investment Securities' decision to shift from a sole CEO system to a co-CEO system. The company has pushed to overhaul its CEO operating structure to strengthen expertise by business division and reinforce responsible management as it secures a foundation to pursue its comprehensive investment account (IMA) business and responds to an expansion of its business scale and changes in the market environment.

Shin was recommended as a CEO candidate who will oversee investment banking (IB), management, wholesale and companywide management functions. NH Investment Securities explained that Shin is an investment banking specialist who has built experience and results in key business divisions.

The committee assessed that Shin can lead the company's mid- to long-term growth strategy, including expanding the IMA business, discovering new growth engines and diversifying profit bases.

Bae was recommended as a CEO candidate responsible for WM, digital, channels and research functions. Bae is cited as a wealth management specialist who has led an expansion of the customer base and strengthened sales competitiveness in the retail sector.

The committee judged that Bae can drive growth in the retail division by strengthening wealth management competitiveness, advancing a customer-centered wealth management system and innovating sales based on digital foundations.

An NH Investment Securities official said, "At a time when the company is entering a new stage of growth, we decided to shift to a co-CEO system to enhance expertise by business division and strengthen responsible management." The official added, "We expect Shin Jae-wook and Bae Gwang-soo to lead the company's continued growth based on their respective expertise and experience."