The Indonesian Investment Authority (INA), Indonesia’s sovereign wealth fund (SWF), has reportedly appointed a new chief executive officer (CEO), with Oki Ramadhana, the current President Director of Mandiri Sekuritas, stepping into the role. He will succeed Ridha Wirakusumah in this pivotal position.
Further reports from Bloomberg indicate a broader leadership restructuring within INA. Laksono Widodo, formerly the President Director of BRI Danareksa Sekuritas, has been named the new Chief Investment Officer (CIO). Additionally, Adhiputra Tanoyo, who previously served as a Director at Bank Ina Perdana, has been appointed as INA’s Head of Risk.
“All three were inaugurated on Wednesday,” an anonymous Bloomberg source stated on Wednesday (May 13), providing insight into the swift leadership changes at the state-owned investment fund.
Putri Dianita Ruswaldi, Vice President of Communications at INA, confirmed that a leadership transition within the board of directors of the state investment management institution is indeed underway. She emphasized that this process aligns strictly with the established governance framework and formal procedures of the institution.
Speaking to Katadata.co.id on Thursday (May 14), Putri added, “Further information regarding these appointments will be officially announced once the formal processes are fully completed.”
So, who is Oki Ramadhana, the individual now at the helm as INA’s new CEO, and what does his extensive track record reveal?
Oki Ramadhana’s Professional Journey
Born in Jakarta on October 28, 1971, Oki Ramadhana has been the President Director of Mandiri Sekuritas since September 6, 2021. Beyond leading Mandiri Sekuritas, he also holds a significant position as a Commissioner at the Indonesia Stock Exchange (IDX).
Boasting over two decades of experience in the dynamic financial services industry, Oki’s career began at Rothschild & Co Indonesia, where he worked from 1999 to 2004. He then transitioned to Merrill Lynch, serving as Vice President from 2004 to 2007, marking a steady ascent in his professional trajectory.
Oki’s career progressed rapidly, leading him to an Executive Director role at Goldman Sachs Singapore in 2008, followed by a tenure as Executive Director for Goldman Sachs Asia Pacific from 2009 to 2011. He then took on the demanding role of President Director at Morgan Stanley Indonesia, a position he held from 2011 to 2018.
Before his latest appointment, Oki also served as President Director and Head of Investment Banking at HSBC Sekuritas Indonesia from 2018 to 2021. Notably, Oki’s name had previously surfaced as a candidate for the President Director position at the Indonesia Stock Exchange (IDX). This past Tuesday (May 12), he reportedly underwent a fit and proper test at the office of the Financial Services Authority (OJK).
Academically, Oki Ramadhana earned his Bachelor’s degree in International Relations from the University of Indonesia in 1996. He furthered his education by pursuing a Master of Business Administration (MBA) at the University of Colorado, United States, completing it in 1998. Demonstrating a commitment to continuous learning, Oki also obtained a doctoral degree in Strategic Management from the University of Indonesia in 2021.
Summary
Oki Ramadhana, the former President Director of Mandiri Sekuritas, has been appointed as the new Chief Executive Officer of the Indonesian Investment Authority (INA), succeeding Ridha Wirakusumah. This leadership transition is part of a broader restructuring that includes the appointments of Laksono Widodo as Chief Investment Officer and Adhiputra Tanoyo as Head of Risk. INA officials confirmed that these changes adhere to the institution’s formal governance and official procedures.
With over twenty years of experience in the financial sector, Ramadhana has held senior leadership roles at major institutions, including Goldman Sachs, Morgan Stanley, and HSBC Sekuritas Indonesia. He holds an MBA from the University of Colorado and a doctoral degree in Strategic Management from the University of Indonesia. His extensive professional background and academic credentials position him to guide the country’s sovereign wealth fund in its strategic investment objectives.
