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Profile of Agus Dermawan Wintarto Martowardojo

Minister of Finance of the Republic of Indonesia

Agus Dermawan Wintarto Martowardojo (born in Amsterdam, The Netherlands, January 24 1956) is an Indonesian banker. He is a graduate of the Faculty of Economics, University of Indonesia (1984), who, prior to his appointment as Minister of Finance, had a lengthy career with a number of foreign and Indonesian banks.

On 19 May 2010, Agus Martowardojo, along with his deputy, Anny Ratnawati, was appointed as the Minister of Finance by President Susilo Bambang Yudhoyono. He suceeded Sri Mulyani, who resigned her post to take up a position as a Managing Director of the World Bank in Washington.

Prior to the appointment, Agus Martowardojo served as the CEO of state owed Bank Mandiri, the largest bank in Indonesia, starting from 2005. While, earlier in his career, he has held positions with Bank of America (International Loan Officer at the Jakarta Branch, 1984), Bank Niaga (Vice President, 1986-1994), Bank Bumiputera (President Director, 1995-1998), Exim Bank (Managing Director, 1998) and the Indonesian Bank Restructuring Agency (2002). As well as holding the position of Director at Bank Permata for a period of three years.

In 2008 Agus Martowardojo was the President’s choice for Governor of Bank Indonesia, but was rejected by the House of Representatives.

Agus Martowardojo had stated that he will pursue the Ministry of Finance reform agenda, as previously spearheaded by Sri Mulyani. More specifically he intends to increase tax receipts by registering more taxpayers and creating a business climate that facilitates increased tax revenues.

The question remains whether Agus Martowardojo will pursue tax evasion as diligently as his predecessor, with his comments on this matter indicating that he intends to research the matter more thoroughly first.

Agus Martowardojo is well known by the international community and by investors, with his extensive experience as a banker providing in-depth knowledge on the problems faced by the Indonesian banking sector. While the progress made at Bank Mandiri during his tenure in cutting non-performing loans, raising the bank's profile among international investors, as well as producing strong profits and a strong share price performance, are a testament to his strong managerial skills.

 
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[Last update: 2010-11-11 21:44:31]

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