People Digest: Bukalapak names Rasyid as president; IDX gets new head; Ropes & Gray hires HK counsel

Bukalapak co-founder and president Fajrin Rasyid.

A number of people moves occurred in the region recently, with Indonesian e-commerce startup Bukalapak promoting its CFO to president and the country’s stock exchange getting a new president director. Meanwhile, Chune Loong Lum also rejoins law firm Ropes & Gray as Hong Kong counsel.

Bukalapak promotes Fajrin Rasyid as president

Indonesian marketplace platform Bukalapak announced that its chief financial officer, Fajrin Rasyid, has been promoted to the position of president of the company. In his new role, Rasyid will be responsible for the Jakarta-based startup’s long-term and strategic initiatives and will be in charge for promoting partnerships with external parties.

Rasyid, who was Bukalapak CFO for seven years, is a graduate of Bandung Institute of Technology. He started his career as a consultant at Boston Consulting Group, Bukalapak said in a press release.

Over the years, Bukalapak has received funding from a host of regional and local investors including Batavia Incubator, 500 Startups, Aucfan, IREP and Emtek.

Inarno Djajadi named Indonesia Stock Exchange head

Indonesia’s Financial Services Authority (OJK) has announced the appointment of Inarno Djayadi as new president director of the Indonesia Stock Exchange (IDX), with the appointment effective after the general shareholders meeting on 29 June.

In a statement, the OJK said, Djayadi has extensive expertise in capital markets, having worked at Aspac Upindo Sekuritas, Mitra Duta Sekuritas, Widari Securities, Madani Securities, Maybank Kim Eng Securities, and CIMB Sekuritas Indonesia.

Inarno, an IDX commissionaire since June 2017, still serves as the CIMB Sekuritas Indonesia president commissioner.

The IDX board of directors for 2018 – 2021 is composed of Djajadi as President Director; IGD N Yetna Setia as Corporate Assessment Director; Laksono Widito Widodo as Director for Trade and Stock Exchange; Kristian Sihar Manullang as Transaction Supervision and Compliance Director; Fithri Hadi as Information Technology and Risk Management Director; Risa Effennita Rustam as Finance and Human Resource Director.

Ropes & Gray names Chune Loong Lum as Hong Kong counsel

Global law firm Ropes & Gray has rehired Chune Loong Lum as Hong Kong counsel of its private investment funds practice, which has an Asia team based in the city.

In a statement, the law firm said, Lum will represent Asia- and China-focused fund sponsors in the formation, structuring, and operation of private equity funds.

Lum, who rejoins from Skadden, Arps, Slate, Meagher & Flom, will also represent sovereign investors and institutional investors in their fund commitments and transactions.

Ropes & Gray has more than 1,200 lawyers and legal professionals serving clients in major centers of business, finance, technology, and government. The firm has offices in New York, Boston, Washington, D.C., Chicago, San Francisco, Silicon Valley, London, Hong Kong, Shanghai, Tokyo, and Seoul.

Also Read:

Indonesia’s newest unicorn Bukalapak now wants to take on the big boys

Indonesia: IDX targets 30 IPOs in 2017 after sluggish year

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.