In a bid to respond more swiftly to changes in the global business environment, South Korean asset managing giant Mirae Asset Financial Group said Wednesday that it has appointed new executives at affiliates as part of a new shake-up.

Two chief executive officers -- Choi Chang-hoon and Lee Byeong-seong -- were named as the new chiefs of Mirae Asset Global Investments as part of the firm’s efforts to accelerate innovative growth.

“Celebrating the 25th anniversary of the group’s establishment, we have welcomed younger leaders who could lead affiliates under the dynamic and horizontal organizational culture. ... Mirae Asset will contribute to raising the vital power of the country’s financial industry,” a Mirae Asset Financial Group official said.

Choi, a 53-year-old property asset investment expert, joined Mirae Asset in 2005 through Mirae Asset MAPS Global Investments. The vice president and CEO then started his career at the group’s flagship investment management unit in 2012.

Lee, a 55-year-old veteran marketing strategist, entered Mirae Asset Securities in 2000, fostering his career at the brokerage for a decade. He was later appointed to lead Mirae Asset Global’s corporate marketing and investment pool supervising from 2011 onward. 

On Tuesday, Mirae Asset Securities’ President and CEO Kim Jae-sik was named as a new chief of Mirae Asset Life Insurance. The board of directors approved the nomination of Kim as the firm’s new CEO in charge of general management.

Kim had led the financial group’s insurance arm until 2018. His new position as CEO of Mirae Asset Life Insurance is likely to be confirmed at the general shareholders meeting in March. Until then, the current CEO, Byun Jae-sang, will lead the insurance firm alone.