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Citibank Korea has appointed Kim Kyoung-ho, currently the head of corporate banking, as its new CEO, marking the lender's first leadership change in six years, according to the bank's announcement on Wednesday. The executive recommendation committee selected Kim as the sole finalist during a meeting held on Tuesday. If the board and shareholders approve the decision, Kim will take over from Yoo Myung-soon, who has been leading Citibank Korea since 2020 as the first female CEO, with her term set to end on October 27.

The committee highlighted Kim's expertise in corporate banking, emphasizing his extensive experience working with large corporations and financial institutions. They praised his deep knowledge of client relationships, the Korean market, risk management, and internal controls. Kim began his tenure at Citibank Korea in 2001 and has held various senior positions within the corporate banking division, including large corporate banking and coverage of financial institutions.

Prior to his recent promotion to executive vice president in 2021, he played a crucial role in shaping the bank's approach to serving large corporate clients.

This appointment comes at a pivotal moment for Citibank Korea, as the lender is currently undergoing a significant transformation in its Korean business operations. Following its exit from consumer banking, Citibank Korea is now focusing on strengthening its relationship with corporate clients. Kim's extensive experience and deep understanding of the Korean market position him well to guide the bank through this transition period.