Shinhan Financial nominates Han Dong-woo as CEO

Public management scandal forced bank to pick former vice chair as new chief executive.

Shinhan Financial Group said on Monday it had nominated a former vice chairman of its life insurance unit as its new chief executive, as it attempts to recover from months of turmoil that took a toll on its reputation for management stability.

A nine-member special committee at Shinhan nominated Han Dong-woo as the new CEO after interviewing shortlisted candidates.

Although his appointment requires the approval of a March shareholders' meeting, Han is set to take the helm of South Korea's biggest financial services group by market value, which has been embroiled in a public management scandal since September that led to the resignations of its top three leaders and an investigation.

Shinhan picked the new chief executive of its banking unit Shinhan Bank late last year. 

View the full story in Reuters.