Update on Indonesia’s Wealth Management Market

Ivan Kusuma is the Head of Investment and Liabilities in Commonwealth Bank Indonesia. In his capacity, he is responsible for Wealth Management product developments (Investment, Foreign Exchange, and Liabilities products) and Wealth Management investment research covering Retail and SME Business. Ivan is also responsible for digitizing Wealth Management customer experience through the 2-MURI award winning application, CommBank SmartWealth. Prior to joining Commonwealth Bank, he worked at Citibank as Investment Product Head, and before that he worked for Standard Chartered Bank in various Wealth Management product roles. He graduated from University Indonesia, majoring in Accounting and is also a Chartered Financial Analyst (CFA) holder. He is also actively involved in ABAPERDI (Bank Mutual Fund Selling Agent Association) in meeting with regulators.

Damien is the Regional Director Asia for InvestCloud. In that capacity Damien works with Banks and Insurers in finding technology oriented solutions to improve sales, advisory and relationship management processes. Despite being a trained lawyer, Damien’s love of zeros and ones drove him along a 18 year pilgrimage to the intersection of finance and technology, guiding world leading banks and insurers along the journey. He is based in Singapore and covers the major Asia banking centers.

Vincent Magnenat, Limited Partner, is Chief Executive Officer of Lombard Odier in Asia. Vincent has spearheaded the growth and expansion of Lombard Odier’s private banking business since joining the firm in 2012, contributing heavily to raising its visibility and overseeing solid growth in assets under management. He was invited to be a Limited Partner of the Group in February 2018. He has also been a key architect of the firm’s strategy to serve clients directly from three offices in Asia and partner with some of the region’s major financial institutions to support their goals of becoming private banking leaders in their markets while leveraging over 200 years of international wealth management expertise of Lombard Odier. Prior to joining Lombard Odier, Vincent spent close to nine years at Société Générale, one of the largest European banks. His last position was as Regional Head of Sales and Marketing for Private Banking in Asia, overseeing business development efforts across the region. Vincent began his career in international private banking at Credit Suisse in Switzerland and relocated in 2002 to Singapore. He has worked and lived in Hong Kong and Singapore for 19 years.

Samdarshi Sumit is President Director and CEO of PT PFI Mega Life Insurance , Indonesia. PFI Mega Life insurance is a Joint Venture between Prudential Financial of the US and CT Corpora , one of the leading conglomerate groups in Indonesia with ventures in Banking , Finance , Retail and Media among others. Prior to his current role , he was the MD of Generali Insurance in Thailand and Chief Retail Officer of Generali Life Insurance in Thailand. Samdarshi has had a wide experience of leadership roles across Retail Financial services with Life insurance, General Insurance and Banking. He has lived and worked in India ,Vietnam, Thailand and Indonesia. Samdarshi is an alumnus of the Indian Institute of Management, Indore and spent his early corporate years at HDFC Bank ,the largest bank in India by market cap. He also pursues interests in Yoga and is a triathlete having completed his first Ironman 70.3 in 2019.

Patrick is the Global Head of Wealth Solutions, Sales Strategy & Execution, for Refinitiv based in Singapore. In leading this global team, his objective is to ensure that Refinitiv’s products & services meet the needs and expectations of wealth management customers & prospects across ASEAN. Prior to this role, Patrick was Head of Proposition Sales, ASEAN from Jan 2020 to Dec 2021 and Head of Market Development for Wealth – APAC at Refinitiv until Dec 2019. Patrick joined the Financial & Risk division of Thomson Reuters in 2014, which became Refinitiv in October 2018. Previously Patrick worked within the private banking industry in Singapore as Head of the European Desk at Barclays Wealth and Head of Private Banking at VP Bank (Singapore). He moved to Singapore in 2008 from London where he was a team leader for Barclays Wealth. Patrick is a Chartered Fellow of the Chartered Institute for Securities & Investment and has a BSc in Statistics from the University of Newcastle upon Tyne. Outside of work his focus is on being a husband, a father, a runner and a Scotsman.

Meru Arumdalu is the Head of Wealth Management at Standard Chartered Bank, Indonesia. She is responsible all wealth management products (Investment, Treasury and Bancassurance product) covering retail clients and the business banking segments. Prior to assuming this role, she was Head of Managed Investment and WMPS at Standard Chartered Bank, Indonesia. She spent ten years at Citibank before joining Standard Chartered Bank in 2015.

Vincent Magnenat, Limited Partner, is Chief Executive Officer of Lombard Odier in Asia. Vincent has spearheaded the growth and expansion of Lombard Odier’s private banking business since joining the firm in 2012, contributing heavily to raising its visibility and overseeing solid growth in assets under management. He was invited to be a Limited Partner of the Group in February 2018. He has also been a key architect of the firm’s strategy to serve clients directly from three offices in Asia and partner with some of the region’s major financial institutions to support their goals of becoming private banking leaders in their markets while leveraging over 200 years of international wealth management expertise of Lombard Odier. Prior to joining Lombard Odier, Vincent spent close to nine years at Société Générale, one of the largest European banks. His last position was as Regional Head of Sales and Marketing for Private Banking in Asia, overseeing business development efforts across the region. Vincent began his career in international private banking at Credit Suisse in Switzerland and relocated in 2002 to Singapore. He has worked and lived in Hong Kong and Singapore for 19 years.

Patrick is the Global Head of Wealth Solutions, Sales Strategy & Execution, for Refinitiv based in Singapore. In leading this global team, his objective is to ensure that Refinitiv’s products & services meet the needs and expectations of wealth management customers & prospects across ASEAN. Prior to this role, Patrick was Head of Proposition Sales, ASEAN from Jan 2020 to Dec 2021 and Head of Market Development for Wealth – APAC at Refinitiv until Dec 2019. Patrick joined the Financial & Risk division of Thomson Reuters in 2014, which became Refinitiv in October 2018. Previously Patrick worked within the private banking industry in Singapore as Head of the European Desk at Barclays Wealth and Head of Private Banking at VP Bank (Singapore). He moved to Singapore in 2008 from London where he was a team leader for Barclays Wealth. Patrick is a Chartered Fellow of the Chartered Institute for Securities & Investment and has a BSc in Statistics from the University of Newcastle upon Tyne. Outside of work his focus is on being a husband, a father, a runner and a Scotsman.

Meru Arumdalu is the Head of Wealth Management at Standard Chartered Bank, Indonesia. She is responsible all wealth management products (Investment, Treasury and Bancassurance product) covering retail clients and the business banking segments. Prior to assuming this role, she was Head of Managed Investment and WMPS at Standard Chartered Bank, Indonesia. She spent ten years at Citibank before joining Standard Chartered Bank in 2015.

Samdarshi Sumit is President Director and CEO of PT PFI Mega Life Insurance , Indonesia. PFI Mega Life insurance is a Joint Venture between Prudential Financial of the US and CT Corpora , one of the leading conglomerate groups in Indonesia with ventures in Banking , Finance , Retail and Media among others. Prior to his current role , he was the MD of Generali Insurance in Thailand and Chief Retail Officer of Generali Life Insurance in Thailand. Samdarshi has had a wide experience of leadership roles across Retail Financial services with Life insurance, General Insurance and Banking. He has lived and worked in India ,Vietnam, Thailand and Indonesia. Samdarshi is an alumnus of the Indian Institute of Management, Indore and spent his early corporate years at HDFC Bank ,the largest bank in India by market cap. He also pursues interests in Yoga and is a triathlete having completed his first Ironman 70.3 in 2019.

Damien is the Regional Director Asia for InvestCloud. In that capacity Damien works with Banks and Insurers in finding technology oriented solutions to improve sales, advisory and relationship management processes. Despite being a trained lawyer, Damien’s love of zeros and ones drove him along a 18 year pilgrimage to the intersection of finance and technology, guiding world leading banks and insurers along the journey. He is based in Singapore and covers the major Asia banking centers.

Michael is a prominent figure in the financial services industry in Asia. He is the founder and CEO of Hubbis, a renowned provider of intelligence and connectivity for the Asian wealth management industry. With a depth of experience and expertise, he has played a pivotal role in shaping the industry for over 30 years, becoming a leading industry presence in the events, professional development, and publishing space in the region. Hubbis is a multi-generational family-owned and managed business.

He has been actively involved in the Asia-Pacific region since 1993. And has lived in Asia since 1995, holding positions in Hong Kong, Sydney, and Singapore. 

For over 14-years, Hubbis has established itself as the gold standard media and events brand in wealth management thought leadership in Asia. Each year providing a very large body of cutting-edge editorial and sponsored content, organizing top-flight events.

During that time Hubbis has become the platform of choice for many high-profile C-suite leaders to communicate their vision of the Asian wealth management.

Before his involvement with Hubbis, Michael founded Pacific Prospect in 2002, a financial services media company. Under his leadership, the company achieved significant success and was subsequently acquired by global business-to-business publisher Incisive Media in 2006. Michael continued to serve as the CEO of Pacific Prospect until October 2008.

Prior to his entrepreneurial ventures, Michael garnered 5 years of experience in financial markets publishing. His career in this field began in 1993 when he joined Euromoney Publications as the publisher of the quarterly magazine, International Bond Investor. In 1995, Michael joined Thomson Financial Services (now owned by LSEG) and spearheaded the conception and launch of Finance Asia magazine. During his tenure as Managing Director of Finance Asia, he also initiated the Asian Debt Review, Asian Private Capital Magazine, and the Finance Asia Conference Business. In 1997, he founded FIA Limited, further expanding his contributions to the financial publishing industry.

Born in North Wales, Michael served as the head boy of St David's College Llandudno. He holds a degree in Business Administration from Cardiff University. Beyond his professional endeavours, Michael is a family-oriented individual and is happily married with three children: Reanna, Garett, and Tarryn.