KIC appoints CIO and investment managers

The budding Korean Investment Corporation hires its foreign CIO.
The Korean Investment Corporation KIC, the embryonic government institution being seeded with an initial $20 billion from KoreaÆs foreign reserves, has finally hired a chief investment officer, removing the last major obstacle to beginning operations.

Guan Ong, former president and CEO at Prudential Asset Management in Seoul, has joined as KICÆs CIO. He reports to Lee Gang-won, the KICÆs CEO and former head of Korea Exchange Bank.

The organisation has also hired Rhee Kee-hong as general manager of the investment team. Rhee formerly ran international investments for the Korean Federation of Community Credit Cooperatives, and his role will now be filled by Juh Sung-doo, who worked under Rhee at the KFCCC...
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