NH Financial chairman stresses ‘chemistry’ in brokerage merger

Published : Sept 22, 2014 - 20:18 Updated : Sept 22, 2014 - 20:18

NH Financial Group chairman Yim Jong-yong (front row, fourth from right) poses with NH executives at a workshop held at its headquarters in Seoul on Friday. (NH Financial Group)

Developing a new corporate culture in which people can share value and growth is the key to a successful merger between NH Financial’s brokerage units of NongHyup Investment & Securities and Woori Investment & Securities, said NH chairman Yim Jong-yong.

“A successful merger between the two brokerages depends on having chemistry rather than bonding physically. And this lies with consolidating the corporate cultures of the two organizations,” Yim told executives from both securities firms during a workshop on Friday.

“I ask the two to merge and become the country’s top securities company with a differentiated corporate culture.”

In April, NH Financial Group took over Woori Financial Holdings’ affiliates, including Woori Investment & Securities and Woori Aviva.

The acquisition led NH Financial to become the nation’s fourth-largest financial group by asset, reshaping the local financial landscape.

NH officials said in a statement that the two firms would continue to hold events to help their employees work together in the post-merger integration process.

By Suk Gee-hyun (monicasuk@heraldcorp.com)