Ex-Citibank chief may run for bank federation chair

It is a hectic time for Ha Yung-ku who is trying to flag down a new job after unsuccessfully running for the chair of KB Financial Group.

The five-term chairman and CEO of Citigroup Korea was to serve out his term in March, 2016, but stepped down last month in order to make his bid as the KB Financial Group head.

Although he was considered one of the top-ranking candidates, he was defeated in a neck-and-neck race against KB Financial group’s former chief financial officer Yoon Jong-kyoo.

The next post he seems to be currently eyeing is as chairman of the Korea Federation of Banks, industry sources said, particularly since no other high-level job opening is expected to be available for a while.

According to industry officials, Ha is interested in running for the post, currently held by Bahk Byong-won, whose term is to end in end-November.

“There has so far been no official candidate nomination,” said an official of the KFB.

“All details will be decided by the board of directors in the upcoming monthly meeting on Nov. 24.”

Ha has long been said to be a potential nominee, even before he stepped down as Citigroup chief, the official added.

“I will forever remain a Citi man,” Ha had said, in a letter sent out to Citibank employees before he officially stepped out and handed over his job to chief vice president Park Jin-hei.

“I believe that considering the circumstances, Citibank’s performance over the past years surpasses that of Kookmin Bank or Shinhan Bank.”

By Bae Hyun-jung (tellme@heraldcorp.com)