Latest news with #JinOk-dong
Korea Herald
25-05-2025
- Business
- Korea Herald
Shinhan chief meets Goldman Sachs to deepen wealth, investment ties
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.
Korea Herald
25-05-2025
- Business
- Korea Herald
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.
Korea Herald
13-04-2025
- Business
- Korea Herald
Shinhan Financial chair visits Central Asia to spur global growth
Shinhan Financial Group said Sunday that its Chair and CEO Jin Ok-dong has completed a three-day visit to Kazakhstan and Uzbekistan to tap deeper into the Central Asian markets. Starting Wednesday, the Shinhan chairman held meetings with senior officials from the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market and the Central Bank of Uzbekistan to discuss opportunities for collaboration and financial sector development. With Central Asia emerging as a strategic market, Jin's visit focused on assessing local operations and promoting financial cooperation. Currently, the Korean financial conglomerate runs three entities in the Central Asian region, including two in Kazakhstan -- Shinhan Finance and Shinhan Bank Kazakhstan -- and one in Uzbekistan -- Shinhan Bank Uzbekistan. The group has seen these markets bear fruit, with Shinhan Bank Kazakhstan reporting 103.1 billion won ($72 million) in profit last year and an average of 231 percent growth over two years. The profit generated by the Kazakhstan banking unit accounts for 13.6 percent of its outstanding global profit of 758.9 billion won. He also visited Aster Auto, a joint venture between Shinhan Finance and Kazakhstan's leading used car dealer, to review operations and encourage business growth. 'Shinhan Financial will continue to closely monitor the rapidly growing Central Asian market and expand various forms of exchange to build a foundation for the group's sustainable growth,' Jin said. The chairman also attended the opening of a Korea Pavilion at Al-Farabi Kazakh National University, where he presented scholarships to local students, highlighting the group's commitment to cultural and educational exchange.
Korea Herald
16-02-2025
- Business
- Korea Herald
Shinhan chair promotes strong earnings, corporate value plans in Japan
Shinhan Financial Group Chair and CEO Jin Ok-dong met with investors in Japan to promote the banking group, highlighting strong earnings and plans to enhance corporate value, according to the firm's announcement on Sunday. During the three-day visit from Wednesday to Friday, Jin met institutional investors based in Japan such as Daiwa Securities, Mizuho Bank and SMBC Group, along with Japanese authorities such as the Financial Supervisory Agency and the Bank of Japan, assuring them of South Korea's market stability despite the political uncertainties. Jin also shared the banking group's robust earnings and updates on its strategies to elevate its corporate value. In 2024, Shinhan Bank, a key arm of Shinhan Financial Group, posted its largest-ever yearly profit, logging 3.69 trillion won ($2.56 billion) in net profit. The bank reclaimed its position as the country's top lender, outrunning its peers. Led by the bank's strong performance, Shinhan Financial Group posted 4.51 trillion won in net profit last year, up 3.4 percent on-year. It came in second among the five top financial service providers here. Shinhan Financial Group also announced plans to put in a total of 1.75 trillion won to boost its shareholder return, involving a 1.1 trillion won dividend payout and 650 billion won treasury share cancellation. "Through the investor relation event and meetings, we were able to address foreign investors' concerns on the Korean economy and the capital market, and reaffirm their trust," Jin said. "Shinhan will continue to communicate with foreign investors and promote the stability of the Korean capital market and the banking group's growth efforts based on it." Since the end of last year, Shinhan Financial Group has been holding one-on-one meetings with global investors to reassure them of Korea's market stability, the firm explained.
