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Economy

Jokowi picks banker Wirakusumah to head Indonesia's sovereign fund

Bank Permata president director tapped for his overseas investor network

Ridha Wirakusumah, left, was picked by Indonesian President Joko Widodo to head the country's planned sovereign wealth fund. (Source photos by Getty Images(File photo) and Reuters) 

JAKARTA -- Indonesian President Joko Widodo on Tuesday named the head of a domestic bank to lead the country's planned $15 billion sovereign wealth fund.

Ridha Wirakusumah, president director of Bank Permata, the 12th largest bank in Indonesia by assets, was given the role as CEO of the fund, known as the Indonesia Investment Authority, or INA. The banker has been in his position since 2016, after previously serving as managing partner at DNB Consulting and Investment Hong Kong for two years.

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