The Asian financial crisis of 1997-98 nearly crippled Korea's banking sector under a glut of non-performing loans. Even so, the Korean banking industry rebounded quickly compared with those of other emerging-market countries affected by the crisis. Can this historical precedent help nervous followers of financial markets find their way in the current global banking meltdown?

As the CEO of Korea First Bank from 2001-2005, Robert Cohen dealt firsthand with the aftermath of the 1997-98 Asian financial crisis. Cohen overcame the cultural obstacles inherent in being the first foreign head of a major Korean bank, marshaling 6,000 employees in a successful effort to rebuild KFB. His insights into the Korean corporate and economic environment have practical applications to the current economic climate.

Tuesday, March 31, 2009

Turning Around a Bank in Korea: A Business and Cultural Challenge

with

Robert A. Cohen
Managing Partner, Joranel

About the Presenter

Robert A. Cohen, managing partner of Joranel, is a consultant for financial institutions. Cohen was president and CEO of Korea First Bank from October 2001 to May 2005, and has served as a director since March 2000. From 1997 to 2000, Cohen was vice chairman of Republic New York Corporation and its banking subsidiary, Republic National Bank of New York, in charge of the Private Banking and the Corporate Banking Divisions and a member of its Executive and Credit Committees. Prior to that, Robert Cohen worked for Credit Lyonnais in France, Belgium and the U.S. for 25 years and held senior positions in several areas, including service as CEO of Credit Lyonnais for the Americas from 1989 to 1997. Cohen is a graduate of the Ecole Polytechnique (Master of Sciences) and holds a Ph.D. in finance from the University of Paris-Dauphine. He taught economics and finance at the Paris Institut Technique de Banque et Finance in the graduate program of the French School of Management (ESSEC). Cohen's honors include the Ordre National du Mérite from the French government.