Citibank Korea names corporate banking expert as next CEO

Citibank Korea has appointed its head of corporate banking, Kim Kyoung-ho, as the bank's next CEO, signaling the lender's first leadership change in six years, according to a statement on Wednesday. The bank's executive recommendation committee unanimously selected Kim as the sole finalist during a meeting held on Tuesday. Once confirmed by the board and shareholders, Kim will succeed Yoo Myung-soon, who has served as Citi's CEO since 2020, making her the bank's first female leader.

Her tenure ends on October 27th. The committee praised Kim for his "extensive experience serving large corporations and financial institutions," highlighting his expertise in corporate banking, relationships with key clients, understanding of the Korean market, as well as his proficiency in risk management and internal controls.

Kim started his tenure at Citibank Korea in 2001 and has held numerous senior positions within the corporate banking department, including large corporate banking and coverage of financial institutions before being promoted to executive vice president in 2021. This appointment comes at a time when Citi is actively restructuring its Korean business following its exit from consumer banking, with corporate clients now occupying a prominent position in the firm's operations.