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Heo Jang named the new CIO of POBA Public Officials Benefit Association (POBA) of South Korea has named Heo Jang, former head of investment at DB Insurance Co. as its new chief investment officer, said financial industry sources on Feb. 10. His term in the office will be three years from this month. The mutual aid association appointed Heo as the new CIO in the board representatives' meeting on Thursday. POBA shortlisted the CIO candidates last December, including Kim Bae-sik, a former alternative investment head of Samsung Life Insurance Co., and a Korean asset management firm's head. Born in 1963, Heo has studied business administration at Seoul National University. He started his financial career at Korea's Tongyang Securities Inc. in 1989, which Yuanta Securities Korea acquired in 2014. Prior to joining DB Insurance, he served as co-head of Tempis Investment Advisory based in Seoul and equity investment head at Prudential Global Investment Management.POBA's former CIO Jang Dong-hun's term ended in January. Jang succeeded to a second term in January 2019, with 90% support from POBA’s board of representatives. By Jong-woo Kimjongwoo@hankyung.comJihyun Kim edited this article.
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