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Business

Mandiri's firefighter spearheads Indonesian banking transformation

Still in his 40s, Kartika Wirjoatmodjo brings energy and a wealth of experience to embattled Bank Mandiri that is inspiring confidence among members of the financial community.

JAKARTA -- "I'm used to dealing with trouble," said Kartika Wirjoatmodjo, the president and chief executive of Bank Mandiri, Indonesia's largest lender by asset, after less than two months in the top positions.

That is just as well as he has already found trouble with a steep decline in profits and the company's stock price slipping. Wirjoatmodjo was speaking on Monday, May 16, at the bank's headquarters in Jakarta, flashing smiles and laughing as he strode confidently towards a room full of analysts.

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