Mirae Asset Securities retains leadership to spur overseas growth

Mirae Asset Securities, South Korea's leading investment bank and securities firm, has decided to retain its two top executives for another term this year, citing their strong performance, particularly in overseas markets.

The firm’s Executive Candidate Recommendation Committee selected its co-CEOs, Vice Presidents Kim Mi-seob and Heo Sun-ho, for reappointment during a meeting on Thursday.

Kim and Heo have jointly led Mirae Asset Securities since their respective appointments as CEOs in October and December 2023. Kim oversees the company’s overseas market operations, while Heo manages its retail division. Their current terms run through March.

"Since taking the CEO role in 2023, Kim has played a key role in Mirae Asset’s global expansion, leading the acquisition of Indian brokerage firm Sharekhan last year," the committee stated.

In 2023, Mirae Asset Securities completed its acquisition of Sharekhan Limited, becoming the first Korean company to acquire an Indian brokerage firm.

"Heo has demonstrated strong management capabilities, with Mirae Asset becoming the first in the industry to surpass 40 trillion won ($27 billion) in both foreign equities and retirement pension assets," the committee added.

In December 2023, Mirae Asset Securities announced that customer-held overseas stock holdings reached 40 trillion won ($27.6 billion). A month earlier, the firm had also hit the 40 trillion won mark in retirement pension assets, setting an industry milestone.

The reappointments will be finalized at a shareholders’ meeting and board meeting scheduled for March 27.

Meanwhile, Mirae Asset Securities’ board approved a 146.7 billion won dividend payout and a 136.9 billion won treasury share cancellation during the same meeting.

Including stock retirement plans executed earlier in the year, total shareholder returns for 2024 reached a record 367 billion won—the largest in the firm's history.

"Guided by our philosophy of honesty and trust, Mirae Asset remains committed to maximizing shareholder value," an official from Mirae Asset Securities stated. "With strong investor confidence, we will continue to pursue growth as a global investment company."