Samsung Asset Management Reshuffles ETF Division Leadership
Samsung Asset Management has appointed Park Myung-jae, former head of BlackRock Korea, to lead its ETF division in a bid to enhance competitiveness. This strategic move comes amidst a decline in Samsung's market share, narrowing the gap between it and Mirae Asset Management. Park, an expert in the ETF sector, known for his role with iShares in Korea at BlackRock, is expected to focus on regaining traction with notable ETFs like KODEX 200. Currently, Samsung's market share stands at 38%, a drop of 2.3 percentage points from the previous year.
Meanwhile, Korea Investment Management is also gaining attention with its successful financial performance. Under the leadership of Bae Jae-kyu, the company's market share has increased and assets under management have doubled. The noteworthy launch of the 'ACE U.S. 30-Year Treasury Active (H)' ETF has significantly contributed to its growth. The firm's cumulative operating profit and net profit for Q3 have both surpassed last year's figures, raising prospects for the extension of Bae's tenure.
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