Asset-management and securities-servicing provider BNY Mellon has hired IGN Budi Sanjaya as country executive for Indonesia and chief representative of the company's office in Jakarta.
He will focus on strengthening local client relationships and report to Jai Arya, Singapore-based head of client management for Asia-Pacific. Sanjaya replaces Vonny Irawan, who has left the company.
Chris Sturdy, BNY Mellon's chairman for Asia-Pacific, says certain trends offer opportunities for the firm to service Indonesian institutions in areas from asset management through to corporate trust services for bond issuances.
"Indonesia is in good economic shape, with individual wealth steadily rising and a burgeoning middle class continuing to fuel the growth of the insurance and asset-management sectors," says Sturdy.
Indonesia has also undertaken legislative measures to encourage the growth of Islamic finance, he adds, another area where BNY Mellon can provide support.
Sanjaya has 20 years of international banking experience and has held senior sales and business roles across Asia. He joins BNY Mellon from Bank CIMB Niaga, where he was head of financial institutions and securities servicing.
BNY Mellon opened a representative office in Jakarta in 1995.