Lee Kwang-hee

Standard Chartered (SC) Bank Korea has recommended Lee Kwang-hee, the current managing director and executive vice president, to succeed outgoing CEO Park Jong-bok, the lender said, Friday.

The appointment of Lee will be confirmed during a meeting of shareholders and board meeting, Sept. 27. His three-year term will begin Jan. 8 next year, a day after Park's term ends.

The executive candidate recommendation committee of three outside directors convened for a two-day meeting through Friday for the recommendation.

“The shortlisted candidates were evaluated on their leadership and communication skills in the field of finance, efforts in sharing SC's vision, bolstering public interest and sound management,” the committee said.

Lee was the top candidate, supported by his extensive professional and global experience, as well as his strong and effective communication skills.

“His contribution to the firm has been significant, as evidenced by the company's strong financial performance and its sustainable finance initiatives.”

He joined SC Bank Korea in August 2010. Lee's experience in the financial market spans branches of Merrill Lynch International including those in New York, Hong Kong, Singapore and Seoul, as well as UBS Securities.

His global expertise culminated in the successful expansion of SC Group's corporate clients worldwide, buttressed by the utilization of its global network.

According to SC, Lee's achievements include robust operating profits and strong returns on tangible equity over the past five years, driven by increased revenues and effective asset quality management.

Lee holds a bachelor's degree in Economics from Wesleyan University and an MBA from the University of Chicago.