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Sung Won Sohn, who earned a doctorate in economics from the University of Pittsburgh in 1972, joined Hanmi Bank as President and Chief Executive Office in January 2005, having spent the preceding seven years as Executive Vice President and Chief Economic Officer at Wells Fargo Banks, the fourth largest bank in the United States.
Dr. Sohn’s thirty-one year banking career dates from 1974, when he joined Norwest Bank Minneapolis as a Vice President. In 1977 he was promoted to Senior Vice President in charge of strategic planning and economics, a position he held until 1984, when he joined Norwest Corporation, the Bank’s parent, as Senior Vice President; his responsibilities included macro-economic forecasting, monetary policy, and regulatory matters pertaining to financial institutions and legislation.
In 1998, Dr. Sohn joined Wells Fargo Banks as Executive Vice President and Chief Economic Officer; there, in addition to macro-economic forecasting, monetary policy, and regulatory matters, he contributed to the management of the bond portfolio, asset-liability management, strategic planning, and mergers and acquisitions. During his tenure at Wells Fargo, he developed extensive international banking experience while assessing country-specific business risks and business opportunities.
Dr. Sohn, an internationally recognized economist specializing in the U.S. economy and monetary policy, has long been active in the American Bankers Association and has served on its Economic Advisory Council. During the Nixon administration, he was a senior economist on the President’s Council of Economic Advisors, during which time he was responsible for economic and legislative matters pertaining to the Federal Reserve and financial markets. In 2001 Dr. Sohn was selected by Bloomberg News as one of the five most accurate economic forecasters in the United States, and in 2002 he was named to TIME magazine’s Board of Economists.
Prior to entering the banking profession, Dr. Sohn from 1969 to 1973 taught economics at a college at the Pennsylvania State University System. | 