KIC appoints Lee Jeong Ja as head of Industry Research Group
06 June 2014
Category: News, Asia, Global, Korea
By Hui Ching-hoo
Korea Investment Corporation (KIC), the country’s sovereign wealth fund (SWF) with total AUM of US$72 billion, has appointed Lee Jeong Ja as head of industry research under the research centre of KIC, effective June 2.
Ms. Lee will report to Keehong Rhee, head of the research centre.
Ms. Lee has over 30 years of experience in the global and Korean financial industry. She began her career as an analyst, and took on various responsibilities and leading roles at the local branch of HSBC Securities She has also worked in the international business divisions and research centres of KDB Daewoo Securities and Tempis Asset Management.
Ms. Lee is well known for her skills as an analyst in the Korean financial industry, and she was one of the first females from the country to hold a senior position at a foreign securities brokerage.
Ms. Lee’s appointment comes after KIC’s new chief investment officer Choo Heung Sik recently revealed that the SWF aims to double its alternative investments, including private equity, real estate, and hedge funds, over the next ten years. The fund has seen declining returns from bonds and equities.
KIC was established in 2005 with a view to enhancing sovereign wealth and contributing to the development of Korea’s domestic financial industry. The SWF is mandated to manage assets entrusted by the government and the Bank of Korea.