JAKARTA (TheInsiderStories) - Indonesia’s largest bank in term of assets PT Bank Mandiri Tbk (BMRI) has new boss, Kartika Wirjoatmodjo, replacing Budi Gunadi Sadikin. Kartika, who has wealth of experience in the financial industry, was previously director for Strategic and Finance of Bank Mandiri.
Kartika’s appointment as new president director was approved by Bank Mandiri’s shareholders meeting on Monday afternoon (March 21).
Minister for State Owned Enterprise Rini Soemarno said her office, which represents the government, endorsed Kartika given his clear vision and wealth of experience in the banking and financial industry. He has worked both in local and international banks as well as government agencies.
The Minister hopes that Kartika, commonly called Tiko, can transform Bank Mandiri into a global player and make the bank operate more efficiently. Bank Mandiri is the largest in term of assets, however, it is defeated by Bank Rakyat Indonesia in term of profitability.
As of end December 2015, Bank Mandiri’s total assets stood at Rp807.55 trillion, while its equity reached Rp111.75 trillion.
Kartika is known within banking industry as a consultant, a professional banker and an expert in corporate finance, strategy and banking transformation. Kartika graduated with a BSc in Economics and Accounting from University of Indonesia and a Master Of Business Administration from Erasmus University, Rotterdam.
He started his earlier as Tax and Accounting Consultant at RSM AJJ in 1995 and continued until 1996. Subsequently, he moved to Industrial Bank of Japan and PWC before moving on to The Boston Consulting Group in 2000. At Boston, he moved up to the level of Senior Consultant.
In 2003 he was appointed Vice President at PT Bank Mandiri. Part of his duties were to develop and implement the Bank Mandiri’s Transformation Program 2005-2010 and analyzing the Indonesian banking market and competitors.
In 2005 he was promoted to Senior Vice President, establishing strategic direction and preparing financial statements analysis and development of the bank. He also established and managed framework and policies of the Performance Management System.
In 2008 he was appointed Managing Director of PT Mandiri Sekuritas. His main task was to implement comprehensive financial restructuring and business refocusing, post 2008 capital market crash.
In 2011, he was appointed as President and CEO of PT Indonesia Infrastructure Finance (IFF) by the Finance Minister. One of his tasks was to set up IFF, a newly established institution (JV between Minister of Finance, IFC, ADB and DEG) to promote infrastructure investment in Indonesia.
In 2014, he was appointed Chief Executive Officer and Member of Board of Commissioner of the Indonesia Deposit Insurance Corporation or LPS.
Only last year (2015), he returned to PT Bank Mandiri as Managing Director and CFO for the bank. His responsibilities are including performing strategic financial planning for the Bank’s future performance.
Following is Bank Mandiri board of directors’ composition:
President Director : Kartika Wirjoatmodjo
Deputy President Director: Sulaiman A.Arianto
Directors:
- Ogi Prastomiyono
- Pahala N. Mansury;
- Royke Tumilaar;
- Hery Gunardi;
- Tardi;
- Ahmad Siddik Badruddin;
- Kartini Sally (new director);
- Rico Usthavia Frans (new director)
The shareholders also appointed new member of commissioner Ardan Adiperdana. (*)