People Digest: Indonesia's INA, UBS make key appointments

People Digest: Indonesia's INA, UBS make key appointments

FILE PHOTO: A logo of Swiss bank UBS is seen in Zurich, Switzerland March 29, 2023. REUTERS/Denis Balibouse/File Photo

INA has named Thomas Soegiarto Oentoro as the chief risk officer, while UBS has named Ben Sung as the head of corporate book for Southeast Asia.

INA appoints Thomas Soegiarto Oentoro as CRO

The Indonesian Investment Authority (INA), the country’s sovereign wealth fund, has named Thomas Soegiarto Oentoro as the chief risk officer (CRO).

Oentoro will be succeeding Marita Alisjahbana, who will conclude her tenure as the CRO on February 15, according to a company statement.

“As Thomas steps in, we anticipate that his contributions will propel us into our next phase of growth while continuing INA’s philosophy of strong risk management and governance standard,” said Ridha Wirakusumah, CEO of INA.

In his previous role, Oentoro was the vice president of Mezzanine Capital Unit for more than eight years. He has also been a senior investment officer at International Finance Corporation for around seven years.

UBS names Ben Sung as head of corporate book for SE Asia

UBS has named Ben Sung as the head of corporate book for Southeast Asia, according to Bloomberg News.

The appointment is a part of UBS’s efforts to expand its private credit business in Southeast Asia as Sung will be managing private credit and structured lending in his role, added the report.

Sung was named head of debt capital markets for Southeast Asia and India in 2017, and later appointed as the co-head of UBS Asia’s debt capital markets arm in 2022.

Before joining UBS, Sung worked with Standard Chartered for five years as executive director of debt capital market and later as executive director of client coverage for Indonesia.

Edited by: Joymitra Rai

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