New Citibank Korea CEO stresses risk management

Yoo Myung-soon, the new CEO of Citibank Korea — the local branch of New York-based Citigroup — urged the bank’s leaders as well as employees to ramp up efforts to counter potential managing risks for consumer protection in her inaugural speech Wednesday, officials said.

“New risk factors evolve as our operating environment changes. Risk management and internal controls are a key responsibility for all of us,” Yoo said.

Also, she vowed to enhance the lender’s differentiated financial services, including top-notch wealth management services, corporate banking services based on using its global network, and digital banking.

Yoo was officially appointed to the bank’s top post on Tuesday, becoming the first female to lead a commercial bank in South Korea.