LOS
ANGELES--(BUSINESS
WIRE)--Jan.
30,
2006--Saehan
Bancorp (OTCBB:SAEB
-
News)
today announced the appointment of Benjamin Hong as president and chief
executive officer, succeeding Joohak Kim.
Hong has been a leader in the Korean-American
business community for more than 30 years. He most recently served as
president and chief executive officer of Nara Bancorp, the first
Korean-American bank to be listed on Nasdaq in 1998. During his tenure
at Nara, assets climbed to $1.3 billion from $50 million when he assumed
the position in 1994. His banking career also includes serving as president
and chief executive of Hanmi Financial Corp. Earlier in his career, he served
as director of international finance at Northrop Corporation and as a senior
vice president at First Interstate Bank. He earned a Bachelor of Arts degree
from Seoul University in Korea and emigrated to the United States at age 39.
Hong subsequently earned a Master of Business Administration degree from the
University of California Los Angeles Anderson School of Management.
"Joohak Kim has contributed tremendously to
Saehan's growth during his 15-year tenure with the bank. We appreciate his
strong commitment to the bank, its customers and employees and wish him well.
Benjamin Hong's extensive record of accomplishments and solid reputation with
the Korean-American banking community were important considerations in his
selection to succeed Joohak Kim and we look forward to ongoing success and
continued growth under his leadership," said Il Young Kim, chairman of
Saehan Bancorp and Saehan Bank.
About Saehan Bancorp
Saehan Bancorp is a bank holding company
with headquarters in Los Angeles, California. Its wholly owned subsidiary,
Saehan Bank, offers a comprehensive range of financial solutions to meet
the needs of the Korean-American community in Los Angeles. Saehan Bancorp
is committed to satisfying customers and creating shareholder value. Its
seven retail branch offices, International Department, VIP Division and
SBA Department of Saehan Bank focus on fulfilling these commitments to
customers and shareholders.
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