Hana Alternative Asset Management Co. Ltd., part of a top South Korean banking group, has appointed Hee-seok Kim, a former global investment head of the National Pension Service (NPS), as the new chief exective officer, as part of effort to expand portfolios into a broader range of overseas markets.
Kim will take office as CEO later this month after a general shareholders’ meeting, according to local media reports on March 6.
He confirmed his appointment, but declined to elaborate further.
As one of a few aggressive alternative investors in South Korea, the CEO-designate had headed investment strategy and global alternative investment divisions of NPS during his 2004-2011 stint.
He led the $1.3 billion acquisition in cash of HSBC’s London headquarters in 2009; the $160 million investment in a stake in Gatwick Airport in London in 2010; and the acquisition of the Sony Center in Berlin for around $650 million in 2010.
NPS reaped handsome returns from the sale of both HSBC’s headquarters and Sony Center in 2014 and 2017, respectively.
Until recently, Kim had served as chief investment officer of NongHyup Life Insurance Co. Ltd. since January 2015 and set up an alternative investment division for the first time for a domestic insurance company.
Under the new CEO, Hana Alternative will look for new investment opportunities in Europe, including the Netherlands and Austria, beyond New York and other US gateway cities, MoneyToday said, citing a company source.
Prior to NongHyup Life, Kim had led the investment division of Hanwha Life Insurance Co. Ltd. and spearheaded the 250-billion-won acquisition of the headquarters building of law firm Eversheds in London in 2012.
He studied law at Seoul National University.
Meanwhile, former global public market head and acting chief investment officer In-sik Cho succeeded Kim as CIO of NongHyup Life in January.
By Daehun Kim
<Edited by Yeonhee Kim>