May 19, 2010 / 1:33 PM / 9 years ago

FACTBOX-Indonesia's new finance minister Agus Martowardojo

JAKARTA, May 19 (Reuters) - Indonesian President Susilo Bambang Yudhoyono has appointed Agus Martowardojo as finance minister.

Martowardojo, president director of Bank Mandiri (BMRI.JK), will replace outgoing minister Sri Mulyani Indrawati, a technocrat who quit earlier this month after a bruising battle with lawmakers opposed to her reform drive and tough stance on corruption. Here are five facts about Martowardojo:

* Martowardojo, 54, was born in Amsterdam and studied economics at the University of Indonesia. He is a career banker, having worked at Bank of America, Bank Niaga and Bank Bumiputera before becoming president director of the country’s biggest lender, state-owned Mandiri, in 2005.

* At the helm of Bank Mandiri, Martowardojo cut non-performing loans and raised the bank’s profile among international investors, delivering strong performance in terms of net profit and share price.

The stock, up 18 percent this year, has outperformed the broader market this year and last.

* Yudhoyono nominated him as a candidate for central bank governor in 2008, but Martowardojo and the other candidate at the time, Raden Pardede, were both rejected by a parliament that appeared keen to flex its political muscle.

Analysts and economists had considered both candidates suitable for the post.

* Martowardojo is seen by analysts as a potentially investor-friendly minister, and many had expected he would be picked to join the new cabinet after the 2009 elections.

* He is married with two children. (Reporting by Sunanda Creagh and Muklis Ali; Editing by Sara Webb)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below