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Mirae Asset Financial chairman to assume top post at KDB Daewoo Securities

The chairman of Mirae Asset Financial Group plans to assume thepost of chairman at KDB Daewoo SecuritiesCo. Ltd. to make sure the company's merger with its own brokerage business goes as planned, YonhapNews Agency reported April 4, citing groupofficials.

Chairman Park Hyeon-joo plans to take up the post to ensure organizationalstability, an official said. He will likely assume the role in the week of April4. With the move, Park is expected to step down as head of Mirae Asset Global Investments.

The news comes after Mirae Asset Financial Group unit signeda deal with Korea Development Bankto acquire a 43% stake in KDB Daewoo Securities and the whole of