Blackstone hires former Citibank Korea CEO to lead office in S. Korea

The Blackstone Group, an American alternative investment management company based in New York City, has recruited the former chief executive officer of Citibank Korea to be its new chairman for its office in South Korea.

Blackstone appointed Ha Yung Ku for the said post, and this was announced on Wednesday, April 27. The executive joined the company in August last year and started out as an executive adviser. With his extensive experience in the banking business and even led an association of local banks at some point, the US-based asset manager trust him to lead Blackstone well in Korea as the company expands in the region.

The Korea Herald reported that Ha Yung Ku would be working alongside Chris Kim, Blackstone’s new managing director. Kim will be leading the new real estate unit that Blackstone’s Korean office is establishing. Previously, Kim was the co-head of the Korean real estate division at the New York-based Angelo Gordon investment firm.

Both Ha Yung Ku and Chris Kim will be working with Eugene Cook, the managing director who is responsible for the private equity business at Blackstone’s Korean office that is now located Seoul’s central business district at Gwanghwamun.

With his appointment, Ha said in a press release, “I am proud to be part of a growing team that has built a reputation for integrity and excellence in the local market and partnerships with some of the country’s leading institutions. I look forward to contributing to the continued expansion of Blackstone in South Korea.”

Blackstone’s chairman, CEO, and co-founder, Stephen A. Schwarzman, also said that he is thrilled to expand their team in South Korea. He said that this is an exciting time for the company’s growth in this market.

The CEO explained that the country is one of the most innovative economies in Asia and boasts of a highly sophisticated workforce and local companies that have greatly influenced the business trends around the world. “The extension of the team will significantly help our efforts to continue building strong relationships across the private and public sectors and find compelling investment opportunities,” Schwarzman said.