South Korea’s Toss Bank names Rhee Eun-mi as its new CEO

Toss Bank

South Korean challenger Toss Bank, owned by fintech firm Viva Republica, has appointed Rhee Eun-mi as its new CEO, effective next month.

Toss Bank said its CEO recommendation committee had picked Rhee as the sole candidate for the top job owing to her “deep understanding of the banking industry and excellence in making strategic decisions”. She will step into the two-year CEO role if she receives approval during the company’s board meeting, which is to be held on 28 March.

If approved, she will replace Hong Min-taek, Toss Bank’s first CEO, who has chosen not to be reappointed on completion of his term next month.

Rhee joins from DGB Daegu Bank, where she served as chief financial officer (CFO) and managing director. Her earlier experience also extends to working as the Asia-Pacific regional head of finance for the commercial banking arm of HSBC, vice president of HSBC Seoul, and CFO of Deutsche Bank’s Seoul operations.

In her new role, Toss Bank expects her to leverage her industry expertise to fuel the company’s growth amidst uncertainty in both domestic and international markets.

“Rhee’s achievements, organizational management capabilities and insight based on her extensive expertise and experience both domestically and internationally are considered the optimal leadership qualifications to spearhead Toss Bank,” it said in a statement.

Launched in 2021, Toss Bank offers a range of features through a mobile app, including a savings account and corporate account, foreign exchange (FX) services, deposits and savings, loans and a check card with cashback features.

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