11th Apr 2005 09:46
Standard Chartered PLC11 April 2005 Board appointments at Korea First Bank Senior Koreans appointed as directors Standard Chartered PLC today (April 11) announced future appointments to theBoard of Korea First Bank, subject to regulatory approval and closing of thetransaction. Standard Chartered Group Executive Director Mr Kai Nargolwala is to be appointedas Chairman of Korea First Bank, respected former regulator, Dr Oh, Kap-Soo, isto be Vice-Chairman and a Non-Executive Director, while Mr John Filmeridis is tobe President and Chief Executive Officer. Five other Directors are also being announced. Mr Lee, Yoon-Jae will continue asa Non-Executive Director providing continuity from the current Korea First BankBoard and a recognised commitment to good governance. He will be joined byexperienced banker Mr Oh, Sei Jong, who has deep experience in Korea's financialservices sector. Former Financial Supervisory Commission counselor Dr Kwon,Jae-Jung is to be standing auditor. Standard Chartered's Group Head of HumanResources, Mr Tim Miller, and Group Head, Risk and Special Assets Management, MrDavid Edwards, are also being appointed to the Board. Mr Miller is a director ofStandard Chartered Bank, while Mr Edwards is a member of Standard Chartered'sGroup Management Committee. "Our aim is to be a leader in Korea's financial services industry. Theseappointments in Korea and from within the Standard Chartered Group, give us verystrong, experienced leadership to guide our business growth in the world's 10thlargest economy," said Mr Mervyn Davies, Standard Chartered's Group ChiefExecutive. "They reflect our commitment to strong Korean participation in thetop management tier of Korea First Bank." Mr Davies added: "John Filmeridis is an accompIished international banker with atremendous range of experience in growing wholesale and consumer bankingbusinesses." Tom McCabe, who is currently Chief Executive Officer of Standard CharteredKorea, will continue in his current role during the process of integrating KoreaFirst Bank with Standard Chartered. Standard Chartered expects to generate significant business growth by combiningKorea First Bank's nationwide platform and 400 branches with StandardChartered's products and international network. BIOGRAPHIES Kai Nargolwala: As Standard Chartered's Group Executive Director withresponsibility for Asia, Mr Nargolwala, 55, has responsibilities that includedeveloping strategy and business performance across Asia, as well as strategicmerger and acquisition activity. He has been closely involved with thedevelopment of Standard Chartered's presence in Korea. He is also Chairman of Standard Chartered's global wholesale banking business,and a non-executive director of Tate and Lyle and Visa Asia Pacific. He joinedStandard Chartered in 1998 and before that worked for Bank of America for 19years, latterly as Group Executive Vice President; Head of Asia WholesaleBanking Group. He is a member of the Institute of Chartered Accountants inEngland and Wales. Kap-Soo Oh: Dr Oh, a leading figure in Korea's financial services industry,joined Korea's Financial Supervisory Service (FSS) in 1999, initially asAssistant Governor, before taking on the role of Deputy Governor in early 2002.At the FSS, he managed the integration of Korea's various supervisory agenciesinto the FSS, implemented best practices for bank governance reform and creditrisk management, and created a World Bank-supported Policy Advisory Panel tohelp Korea move ahead with market and regulatory reform. He was previously a Professor at the College of Business at both Drexel andOklahoma State Universities, and Deputy Director at Bank of Korea. He completeda PhD in Finance from the Wharton School at the University of Pennsylvania in1986, and was a Teaching Fellow from 1980 to 1984. Dr. Oh has presented hisexpertise and insight on Korea's economic reform and restructuring in speechesand papers at many international conferences and forums. In addition to his role with Korea First Bank, Dr Oh will be an advisor to boththe Chairman and the Group Chief Executive of Standard Chartered PLC. "We are very honoured to have someone of Dr Oh's experience and backgroundhelping our Group in North East Asia. He has enjoyed a distinguished career as aregulator, and has been closely involved in formulating and implementingfinancial supervision and reform in Korea," said Mr Davies. John Filmeridis: Mr Filmeridis, 56, has 33 years' experience in banking and overnine years with Standard Chartered. He was previously Standard Chartered'sGlobal Product Head for credit cards, personal loans and SME Banking, whichaccounts for more than 20 per cent of the Group's revenue worldwide. Prior tothat he was Regional General Manager for the Middle East South Asia and CEO forStandard Chartered India. Before joining Standard Chartered Mr Filmeridis spent over 18 years withAmerican Express in various country Chief Executive Officer positions andregional management assignments in the Middle East, New York, India and HongKong. He has a Masters in Business Administration from Southern Methodist University,Dallas, Texas. Yoon-Jae Lee: First appointed as Outside Director of Korea First Bank in 2000,and having been re-appointed in 2003, Mr Lee has served on key Board Committeesincluding the Executive Committee, the Committee for Outside DirectorNomination, and the Compensation Committee. In addition to a first degree at Seoul National University's College of Law, heis also a graduate of Stanford University's prestigious MBA programme. Mr Leehas held numerous senior positions within the Ministry of Finance and Economyand the Office of the President. He is currently the Chief Executive Officer of Korean Enterprise Institute(KorEI), which is a private think tank, specialising in corporate-relatedpolicies and issues. He also serves as an Outside Director for Samsung F&MInsurance. Sei Jong Oh: As a career banker, Mr Oh, 61, has more than 35 years experience inthe commercial and investment banking industry. He started with KoreaDevelopment Finance Corporation, the predecessor of Korea Long Term Credit Bank(KLB). He was appointed President and CEO of KLB in February 1998 and becameChairman of the Board of Kookmin Bank, which merged with KLB at the end of thatyear. He is a non executive director of SK Corporation. Mr Oh graduated in Economicsat Seoul National University and has an MBA from University of California atBerkeley. Jae-Jung Kwon: Dr Kwon has a strong academic background and extensive experiencein a financial advisory role for private institutes and government regulatorybodies. He is a Senior Research Fellow at the Korea Institute of Finance and,until recently, was Senior Counselor to the Chairman at Korea's FinancialSupervisory Commission. He is the author of a number of papers on financial sector reform in key Koreaneconomic and financial publications. Dr Kwon graduated in Economics at SeoulNational University and has a PhD in Economics from Rice University, Texas. Tim Miller: Mr Miller, 47, is a director of Standard Chartered Bank, the mainoperating subsidiary of Standard Chartered PLC. As Group Head of HumanResources, he is responsible for Standard Chartered's Human Resources functionin 56 countries and territories. In this role his work has includedre-organising Standard Chartered's management structure and processes to improvedecision- making and business efficiency and, involvement in managing theintegration of ANZ Grindlays in India and the Middle East. He joined Standard Chartered in 2000 and was previously Executive Director ofHuman Resources for GlaxoSmithKline's worldwide manufacturing operations. MrMiller has a Master in Business Administration from the Scottish Business Schooland currently completing a Doctorate at the University of Nottingham. He is aMember of the Institute of Personnel and Development. David Edwards: Mr Edwards, 51, is an international banker with 31 years'experience. He is currently Standard Chartered's Group Head of Risk and GroupSpecial Assets Management and a member of the Group Management Committee. Hisprevious role was as Regional General Manager for the Middle East and South Asia(excluding India). Mr Edwards joined Standard Chartered in 1999 as Group Head, Risk Management.Prior to this he worked for 25 years with the NatWest Group, concluding hiscareer with NatWest as Group Regional Managing Director Asia Pacific. He has anMBA from Manchester Business School/University of Wales. Standard Chartered - leading the way in Asia, Africa and the Middle East Standard Chartered employs 33,000 people in over 550 locations in more than 50countries in the Asia Pacific Region, South Asia, the Middle East, Africa, theUnited Kingdom and the Americas. It is one of the world's most internationalbanks, with employees representing 80 nationalities. Standard Chartered PLC is listed on both the London Stock Exchange and the StockExchange of Hong Kong and is in the top 25 FTSE companies, by marketcapitalisation. It serves both Consumer and Wholesale Banking customers. Consumer Bankingprovides credit cards, personal loans, mortgages, deposit taking and wealthmanagement services to individuals and small to medium sized enterprises.Wholesale Banking provides corporate and institutional clients with services intrade finance, cash management, lending, securities services, foreign exchange,debt capital markets and corporate finance. Standard Chartered is well-established in growth markets and aims to be theright partner for its customers. The Bank combines deep local knowledge withglobal capability. The Bank is trusted across its network for its standard of governance and itscommitment to making a difference in the communities in which it operates. Korea First Bank Established in 1929, Korea First Bank is broad based, serving customers acrossSouth Korea with both customer and commercial banking products as well as a widerange of trust and investment management services. Korea First Bank is the seventh largest banking group in Korea by assetstotaling US$42 billion. The Bank has strong track record of credit quality withone of the lowest ratios of non-performing loans (1.5%: December 2004). The Bankhas the 5th largest branch network of 398 branches, including one mobile bank,2,057 ATM and CD machines and three overseas units. Korea First Bank has 3.3million retail and 67,000 corporate customers with 1.2 million credit cards incirculation and 2.4 million e-Banking clients. The Bank's modern and efficientCustomer Service Centres are located in Busan and Seoul. Standard Chartered Bank in Korea Standard Chartered Bank is a long standing supporter of Korea. Its history inthe country can be traced to the 1880s, when it opened an agency in what is nowIncheon. Currently, it is engaged in consumer banking and wholesale banking andis a major provider of global market and banking service products to Koreancompanies and banks. A long-standing supporter of Korea, Standard Chartered Bankaims to expand its business and increase investment in consumer banking inparticular. The bank employs around 200 employees, almost entirely Koreans.Standard Chartered Bank is a leader in bank syndications, the country's No. 2provider of custody services, and a Top 5 Bank in Korean won trading. The bank entered the consumer banking sector in September 2003, and opened aPriority Banking Center in May 2004 in the Yeoksam-dong district of Seoul. It isthe first independent private banking branch established by a foreign bank inKorea and a demonstration of Standard Chartered's intention to be the rightpartner to Korean consumers based on global competence and an in-depth knowledgeof local market. Standard Chartered has sponsored a number of international conferences thatposition Korea as a financial services hub. For more information, visit www.standardchartered.com For further information, please contact Standard Chartered Bank Korea Kay Oh, Head, Corporate Affairs +822-750-6009 / +82-11-9941-9273 [email protected] Standard Chartered, Group Corporate Affairs Paul Marriage, Head Corporate Communications +44-20-72807163/ +44-7909687366 [email protected] Cindy Tang, Head, Media Relations +44 20 7280 6170/ +44-7799868246 [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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