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.