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ILLUSTRATION. The President and Director of Permata Bank, Ridha DM Wirakusumah, is said to be the Principal Director of INA, SWF Indonesia. / Pho KONTAn / Carolus Agus Waluyo / 07/24/2018.
Reporter: Nurdian Titis | Editor: Nurdian Titis
KONTAN.CO.ID -JAKARTA If not thorny, President Joko Widodo (Jokowi) will announce the full formation of the Supervisory Board and Board of Directors of the Investment Management Institution (LP) or the Indonesian Investment Authority (INA), this Tuesday (16 /two).
The news that reached KONTAN this morning, PT Bank Permata Tbk (BNLI) CEO Ridha DM Wirakusumah will become CEO of LPI, also known as Indonesia’s sovereign wealth fund.
The news reached KONTAN, last Thursday, Ridha had already met with President Jokowidodo. “Last Thursday he met with President Jokowi,” said a KONTAN source who was aware of this information.
Read also: Following 3 names, this is a strong candidate for the board of directors and CEO of INA, mutual fund manager / SWF
In the management of the INA, Ridha will sit together:
- Stefanus Ade Hadiwidjaja (CEO of Creator),
- Eddy Porwanto Poo, who once served as a commissioner at Garuda,
- Marita Alisjahbana (Indonesia Citi Country Risk Manager) also
- Arief Budiman, former CFO of Pertamina who has been the team of the INA working group.
Ridha’s entry into the ranks of SWF CEO candidates is quite late. Ridha competed with other candidates, namely Tigor Siahaan and Pandu Sjahrir, who recently refused to join the Soverign Wealh Fund.
So who is Ridha DM Wirakusumah? Referring to the Bank Permata (BNLI) annual report, Ridha had a career at Citibank as Vice President of Corporate Banking Group Head at Citibank Jakarta in 1987-1993.
It was also noted that he had been the Head of Corporate Finance at Bankers Trust Jakarta (1993-1995).
After joining Bankers Trust, Ridha continued his career as President and CEO of Asia Pacific at General Electric Consumer Group Company from 1995 to 2006.
Then in 2006-2008 Ridha became CEO of AIG Consumer Finance, Hong Kong
After two years at AIG, Ridha joined forces with Khasanah Malaysia, who later bought PT Bank Internasional Indonesia Tbk. (BNII) from Temasek Singapore.
Two years later, Ridha joined as Chairman and Director of Hong Kong Kohlberg Kravis Roberts (KKR) in 2011-2014.
KKR is an investment company. In Indonesia, KKR has shares registered in PT Japfa Comfeed Indonesia Tbk. (JPFA), Sari Roti’s factory, namely PT Nippon Indosari Corpindo Tbk., (ROTI) and injected capital to PT Aplikasi Karya Anak Bangsa (Go-Jek) and became Unilever (UNVR) Blueband margarine buyer .
2014-2016, Ridha became a managing partner of another investment company, namely DNB Consulting and Investments Hong.
In this company, Ridha is also the company representative in PT Austindo Nusantara Jaya Tbk (2014-2016), member of the Board of Commissioners of Postcard and Tag Hong Kong (2015-2016), and member of the Board of Commissioners of PT Bayan Resources Tbk (2016).
Aside from DNB, the owner of a Bachelor of Science (1985) and a Master of Business Administration (1987), Ohio University took hold of Permata Bank (BNLI) and led the sales action of the company.
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