By Lee Min-hyung
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| Daol Investment & Securities CEO Hwang Joon-ho |
The new head of Daol Investment & Securities said he will focus on risk management and ensure that the mid-tier brokerage secures an earnings rebound.
Hwang Joon-ho, who was appointed as CEO on March 26, is widely known as a renowned strategist in the securities industry with more than 36 years of experience. He studied business administration at Seoul National University.
He has handled diverse executive-level roles in the securities industry. His career includes a stint as vice president of the former Daewoo Securities. After joining Daol's predecessor ― KTB Investment & Securities ― he was in charge of driving the firm's product marketing and strategy-setting before being promoted to the top management of Daol Investment & Securities in March.
He was also previously CEO of Daol Savings Bank, driving the lender's digital transformation and widening its customer base.
Hwang is expected to focus on normalizing the brokerage's earnings performance as the new leader of Daol's securities arm. The company reported an operating profit of 132.4 billion won ($102 million) for the first three quarters combined in 2022, up 35.5 percent from the previous year. But it ended up posting a deficit the following quarter when it reported an operating loss of 25.5 billion won. This was the first quarterly operating loss since early 2020 when the COVID-19 pandemic started.
The company was hit particularly hard by a liquidity crisis that stemmed from real estate project financing loans in the latter half of 2022. At that time, the company was mired in a series of rumors that it was on the verge of collapse or would be put up for sale.
Under Hwang's new leadership, Daol Investment & Securities will also continue to seek growth areas, as the local stock market has yet to show clear signs of a rebound.
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