A former vice president at Shinhan Financial Group’s IT service unit has jumped ship to Shinhan’s rival KB Financial Group, taking the nation’s banking industry by surprise. Cho Young-suh, former vice president of Shinhan DS, announced that KB Financial Group had appointed him as the new head of the group’s think tank, KB Research, and the leader of KB Kookmin Bank’s digital transformation strategy department in its latest reshuffle last week.

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