Bank Mandiri’s new CEO on look out for acquisitions in SEA

Photo By: Bank Mandiri

The new president & CEO of Indonesia’s largest bank – in assets – PT Bank Mandiri Tbk (BMRI) Kartiko Wiroatmodjo, is targeting to acquire another bank or financial institution in Southeast Asian region.

This will help the bank to penetrate the ASEAN market and become a regional powerhouse in three to five years period, he said, adding: “Given our solid financial position, we are looking for acquisition possibilities in the region.”

Kartiko who is replacing Budi Gunadi Sadikin, was previously the director for Strategic and Finance at Bank Mandiri.

The bank is already in the process of opening regional branches in Malaysia and Singapore, he revealed.

Also Read : Indonesia regulator to ink bilateral pacts with 6 nations to enable banks to expand in Asia

Minister for State Owned Enterprise Rini Soemarno said that Kartiko had a clear vision and wealth of experience in the banking and financial industry and has worked both in local and international banks as well as government agencies.

Kartiko graduated with a BSc in Economics and Accounting from University of Indonesia and a Master Of Business Administration from Erasmus University, Rotterdam.

He started out as a Tax and Accounting Consultant at RSM AJJ in 1995; subsequently, moving to Industrial Bank of Japan and PWC before joining The Boston Consulting Group in 2000.

In 2003, He was appointed VP at Bank Mandiri. 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 served as president and CEO, PT Indonesia Infrastructure Finance and was later appointed CEO and Member of Board of Commissioner of the Indonesia Deposit Insurance Corporation or LPS.

Only last year (2015), he returned to Bank Mandiri as Managing Director and CFO for the bank. His responsibilities are including performing strategic financial planning for the Bank’s future performance.

As of end December 2015, Bank Mandiri’s total assets stood at Rp807.55 trillion, while its equity reached Rp111.75 trillion.

Also Read : Indonesia: Bank Mandiri launches VC unit, targets investments in fintech

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.