According to the financial investment industry on the 10th, NH Investment & Securities expanded and reorganized its "Synergy Innovation Team" as it formally launched its new management system. Following the transition to a co-CEO structure, the team's name was changed from "Synergy Strategy Team" to "Synergy Innovation Team," and its duties were expanded.
In addition to its existing role of supporting collaboration among Nonghyup Group affiliates, the team has taken on new tasks such as researching businesses that can expand synergy across divisions within NH Investment & Securities. An NH Investment & Securities official said, "The main goal is to drive a virtuous cycle of innovation while generating synergy among core in-house business divisions," adding that it is "part of upgrading the organizational framework."
The reorganization is seen as a response to concerns raised in parts of the industry when the co-CEO structure was adopted. At the shareholders' meeting held on June 30 this year, questions were raised about the possibility of a "silo phenomenon," in which departments pursue their own interests rather than sharing businesses that could generate synergy. Industry watchers say that the more businesses the reorganization creates that deliver "win-win" effects across divisions, the more it will help improve profitability.
The "Strategic Resource Allocation Committee," co-chaired by CEOs Shin Jae-wook and Bae Kwang-soo, is also undergoing final reviews on matters such as establishing operating rules, sources said. The committee is likely to include the two CEOs and the heads of each business division as members. Currently, Shin oversees investment banking (IB), asset management, institutional sales and company-wide management, while Bae is in charge of wealth management (WM), digital channels and research.
