Indonesia’s sovereign wealth fund, Indonesia Investment Authority (INA), has appointed three banking and capital markets veterans to key leadership roles, including naming investment banker Oki Ramadhana as chief executive officer, according to media reports.
According to a Bloomberg report citing people familiar with the matter, Ramadhana’s appointment was accompanied by INA naming Laksono Widodo as chief investment officer, while Adhiputra Tanoyo was appointed chief risk officer.
Ramadhana most recently served as president director of Mandiri Sekuritas, the brokerage and investment banking arm of Bank Mandiri. He previously held senior investment banking roles at HSBC, including as president director of HSBC Sekuritas Indonesia, and earlier worked at Goldman Sachs and Morgan Stanley.
Widodo previously served as president director of BRI Danareksa Sekuritas, while Tanoyo earlier served as a director at Bank Ina Perdana.
The appointments come after former INA chief executive Ridha Wirakusumah completed his term in February.
Wirakusumah joined INA in 2021 after holding senior positions at Bank Permata, Maybank Indonesia, and KKR. During his tenure, INA expanded investments across sectors including transportation and logistics, digital infrastructure, green energy and healthcare.
In 2024, during Wirakusumah’s tenure, INA reported cumulative investments since 2021 to have reached 65.4 trillion rupiah ($4 billion), supported by foreign direct investment inflows that were 2.5 times higher than previous levels.
The sovereign wealth fund expanded investments across sectors, including transportation and logistics, digital infrastructure, green energy, and healthcare. By late 2024, INA and its partners had completed 15 transactions across those sectors.
