Viva Republica’s Toss Bank announces Rhee Eun-mi as first female CEO
South Korean challenger Toss Bank has named former DGB Daegu Bank chief, Rhee Eun-mi, as its new CEO, effective March 2024.
Toss Bank announces Rhee Eun-mi as new CEO
The new CEO will be tasked with expanding the bank’s footprint in both domestic and international markets while also building on the first quarterly net profit it generated in Q3 2023.
On the appointment, Toss Bank says: “Rhee’s achievements, organisational 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.”
The move is currently dependent on the approval of the bank’s general board, which is set to cast its vote on 28 March. If granted, Eun-mi will embark on a two-year tenure in the position, succeeding outgoing CEO Hong Min-taek, who has decided not to stand for re-election after serving two consecutive terms.
Toss Bank entered the digital banking market of South Korea in 2021 as the brainchild of South Korean fintech firm Viva Republica, which raised $844 million across 10 separate funding rounds to bring its vision to fruition. It currently supports a range of financial services through its mobile app, including loans, credit cards, savings accounts, transfers, deposits, investments and foreign exchange, among others.
Eun-mi is due to join Toss Bank directly from DGB Daegu Bank, where she has been serving as CFO and managing director for the previous two years. Before this, she also led the commercial banking arm of HSBC as regional head of finance for APAC and served as a finance director for Deutsche Bank for over a decade.
