Shinhan Financial Group is replacing heads at four subsidiaries, while retaining current chiefs at three other units, the group said Tuesday.

At Shinhan Life Insurance, Lee Byung-chan, a veteran insurance expert who was previously standing auditor of BNP Paribas Cardif Korea, will replace Lee Sung-rack, whose three-year term expires this month. The incoming CEO will serve three years until March 2019. 


Seol Yeong-o, the CEO of fund administrator Shinhan AITAS, will move to Shinhan Capital to run the consumer finance unit as CEO. Lee Sin-gi, a former executive vice president of Shinhan Financial Group, will fill Seol‘s shoes as CEO of Shinhan AITAS.

Lee Dong-hwan, a former executive vice president of Shinhan Bank, will head Shinhan Data System as CEO.

The three CEOs who will get a second three-year term are Kang Dae-seok of Shinhan Investment Corp., Lee Dong-dae of Jeju Bank and and Lee Won-ho of Shinhan Credit Information.

Both new appointments and retentions are subject to final approval at the respective company’s general shareholders meeting later this month.

By Lee Sun-young (milaya@heraldcorp.com)