Mr. Jay S. Yoo has been at the helm of Hanmi Financial Corp since June 2008. His career in banking spans several decades, and he has a deep understanding of the finance world. Under his guidance, Hanmi has faced several...
Mr. Jay S. Yoo has been at the helm of Hanmi Financial Corp since June 2008. His career in banking spans several decades, and he has a deep understanding of the finance world. Under his guidance, Hanmi has faced several challenges, particularly during the tough economic conditions in recent years. In fact, during his first few years as CEO, he had to navigate the company through financial hurdles that resulted in no bonuses for him or the executive team for several years, reflecting the company’s performance. His total compensation was notably lower in 2008, totaling $247,682, which emphasized the financial struggles at that time. The highest recorded compensation during his tenure was in 2009, at $447,625. Even though he did not receive bonuses for not meeting performance metrics, his focus has been on steady growth and stabilizing the bank. Mr. Yoo seems to value long-term achievements over short-term gains, evident from his approach to compensation which emphasizes performance metrics including asset quality and liquidity.