MG Korean Federation of Community Credit Cooperatives, which manages $50 billion of assets, named Sang-hun Kim, a former managing director and head of asset management division at KB Insurance Co. Ltd. as its chief investment officer on March 28.
Kim won approval from the cooperatives’ board of directors, according to the Financial News, a South Korean news media. The financial institution confirmed it.
He had worked for KB Insurance, formerly LG Non-life Insurance, since joining its investment division in 1996.
As KB Insurance’s asset management head, he had diversified its portfolio into various alternative assets, ranging from senior loans on office buildings in developed countries to co-investments with French bank Natixis and investments in infrastructure and aircraft finance.
He also led KB Insurance’ capital commitment of 30 billion won to a $2 billion blind-pool real estate fund of Brookfield Asset Management, the Financial News added.
Born in 1965, Kim graduated from Seoul National University and majored in Economics. He holds an MBA from Cornell University.
By Chang Jae Yoo
<Edited by Yeonhee Kim>