Indonesia Names Former Bank Permata CEO as SWF Head

Posted on 02/16/2021

Indonesia has named Ridha Wirakusumah as the chief executive officer of its new strategic development sovereign wealth fund (SDSWF). The Indonesia Investment Authority, also referred to as the Nusantara Investment Authority, has a new slate of executives. Indonesian President Joko Widodo briefed media about the hiring of candidates. This also includes Arief Budiman, a former director of oil and gas giant PT Pertamina, who will serve as deputy CEO. Also joining the SWF is Stefanus Ade Hadiwidjaja, previously with private equity firm Creador Capital Group, will be director of investment. Last, Marita Alisjahbana of Citibank Indonesia will be director of risk, while the director of finance will be Eddy Porwanto, formerly the chief financial officer of flag carrier PT Garuda Indonesia.

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