RETAIL BANKING | Tony Chua, Indonesia

Bank Mandiri picks Zulkifli Zaini as president

Zaini will replace incoming Indonesian finance minister Agus Martowardojo.

PT Bank Mandiri, Indonesia's largest lender, is set to name Zulkifli Zaini as its new president director pending shareholder approval, three sources with direct knowledge of the matter said.

He will replace Agus Martowardojo, who left to become the country's finance minister. Zaini is currently the technology and operations director at Bank Mandiri.

"Zulkifli's name has been brought up by Agus to lead the bank when he left as he has the best track record compared to other directors," said a high-ranking source at the state-owned enterprises ministry.

Another banking source also said that Zaini, who has spent most of his professional career at Mandiri, had already passed the "fit and proper" test from the central bank.

View the full story in Reuters.

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