ID :
53057
Tue, 03/31/2009 - 09:18
Auther :
Shortlink :
https://www.oananews.org//node/53057
The shortlink copeid
Korea Exchange Bank shareholders approve new CEO
SEOUL, March 31 (Yonhap) -- Korea Exchange Bank (KEB), controlled by U.S. buyout fund Lone Star Funds, said Tuesday its shareholders approved the appointment of a new chief executive officer at an annual meeting.
Larry A. Klane, 49, replaces Richard Wacker and will lead South Korea's
fifth-largest lender for the next three years, KEB said. Klane is a former
president of the global financial services unit of Capital One Financial Corp.
The change of the KEB head comes about six months after British banking giant
HSBC Holdings Plc pulled out of a deal to buy a 51.02 percent stake in the
lender, citing falling asset values amid global financial market turmoil.
Larry A. Klane, 49, replaces Richard Wacker and will lead South Korea's
fifth-largest lender for the next three years, KEB said. Klane is a former
president of the global financial services unit of Capital One Financial Corp.
The change of the KEB head comes about six months after British banking giant
HSBC Holdings Plc pulled out of a deal to buy a 51.02 percent stake in the
lender, citing falling asset values amid global financial market turmoil.
