Shinhan chief meets Goldman Sachs to discuss wealth, investment strategy
Shinhan Financial Group Chair Jin Ok-dong held a series of high-level meetings with Goldman Sachs executives in Europe to discuss expanding collaboration and benchmarking global practices in wealth management and investment banking.
The meetings took place during a weeklong investor relations tour that began on May 18, with stops in London, Frankfurt in Germany and Warsaw, Poland.
During the trip, Jin met with institutional investors and global financial leaders to share Shinhan's strategy amid rising macroeconomic uncertainty.
The tour was designed to reinforce the group's strategic direction, provide updates on its value enhancement initiatives and explore new revenue streams through global partnerships.
Jin met with Anthony Gutman, co-head of Goldman Sachs International, and Ronan Breen, managing director covering financial institutions, to explore ways to strengthen Shinhan's investment banking business and unlock synergies across its groupwide wealth management platform.
Talks centered on boosting cross-border asset management capabilities and identifying scalable strategies for long-term growth.
Later, Jin sat down with Chris French, co-head of private wealth management for Europe, the Middle East and Africa at Goldman Sachs, to delve into operating models and the strategic expansion of global wealth management business lines.
'By benchmarking the strategies of global financial institutions, we aim to localize and implement sustainable profit models in the Korean market,' Jin said. 'Direct engagement with global investors is a key element of our broader value-up strategy.'
During the meetings, Jin also shared Shinhan's outlook on geopolitical and macroeconomic developments, including US tariff policy shifts and Korea's political landscape and outlined the group's risk management and earnings resilience strategies.
He emphasized Shinhan's progress toward its 2024 financial targets, including a 50-basis-point improvement in return on equity, maintaining a common equity tier 1 ratio, a measure of a bank's financial health, above 13.1 percent and achieving a shareholder return ratio exceeding 42 percent.
The tour concluded in Warsaw, where Jin explored growth opportunities in Poland's expanding energy, infrastructure and defense sectors.
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