Agus Marto (Agus Dermawan Wintarto Martowardojo)

Background

Agus Dermawan Wintarto Martowardojo was born on January 24, 1956, in Amsterdam, Netherlands. He is an Indonesian citizen and has made Jakarta the principal setting of his professional life. His career developed during a period in which Indonesia's banking system underwent major institutional restructuring, particularly after the Asian financial crisis of 1997–1998.

Education

Martowardojo graduated from the Faculty of Economics at the University of Indonesia in 1984. The university, founded in the Dutch colonial period and reorganized as a national university after Indonesian independence, became one of the country's principal institutions for economic and administrative education.

He later completed executive and professional programs at the State University of New York at Buffalo, Stanford University, Harvard Business School, Wharton Executive Education, and banking institutes in Singapore. These programs complemented his university economics degree with training in commercial lending, management, organizational change, negotiation, and strategic decision-making.

Career

Martowardojo began his banking career at Bank of America NT & SA in 1984 through its Officer Development Program and subsequently worked as an international loan officer. Bank of America was a major international commercial bank whose Indonesian operations exposed early-career bankers to corporate lending and cross-border finance. In 1986 he joined Bank Niaga, where he became vice president and head of the Corporate Banking Group in Jakarta and Surabaya, serving until 1994.

In 1994 he became deputy chief executive officer of Maharani Holding. He was appointed president director of Bank Bumiputera in 1995 and president director of Bank Ekspor Impor Indonesia in 1998. These appointments placed him in senior management during the restructuring of Indonesia's financial institutions after the 1997–1998 Asian financial crisis.

Martowardojo joined Bank Mandiri in 1999, initially as managing director for risk management and credit restructuring, later overseeing retail banking and operations and then human resources and support services. Bank Mandiri had been formed in 1998 through the consolidation of four state-owned banks and became a central institution in Indonesia's post-crisis banking reform. In 2002 he served as an advisor to the chairman and vice chairman of the Indonesian Bank Restructuring Agency before becoming president director of Bank Permata in October of that year.

He returned to Bank Mandiri as president director and chief executive officer in May 2005 and led the bank until 2010. During this period Bank Mandiri operated as Indonesia's largest state-owned bank and expanded its role in commercial, corporate, and retail banking. In May 2010 President Susilo Bambang Yudhoyono appointed him Minister of Finance of Indonesia; he held the portfolio until April 2013.

Martowardojo was sworn in as Governor of Bank Indonesia on May 24, 2013, for the 2013–2018 term. Bank Indonesia is Indonesia's central bank, responsible for monetary policy, payment systems, and financial-system stability; during his tenure, the institution also completed the transfer of microprudential banking supervision to the Financial Services Authority. He left the governorship in May 2018.

After his public service, Martowardojo held senior corporate governance roles. He served as commissioner of AKR Corporindo and president commissioner of Sarana Multi Infrastruktur in 2019–2020, and became president commissioner of Bank Negara Indonesia in 2020. In 2023 he became president commissioner of PT PLN (Persero) and president commissioner of GoTo Gojek Tokopedia; GoTo shareholders approved his reappointment as president commissioner in 2026.

Achievements

• As Governor of Bank Indonesia from 2013 to 2018, he led the central bank during the institutional transfer of microprudential banking supervision to the Financial Services Authority and the continuing development of Indonesia's post-crisis financial architecture.

• He led Bank Mandiri as president director and chief executive officer from 2005 to 2010, following earlier senior management responsibilities in risk management, credit restructuring, retail banking, operations, and human resources.

Politics

Martowardojo is a nonpartisan Indonesian public official whose political career was conducted through senior appointments in the executive branch rather than elected party politics. As Minister of Finance from May 2010 to April 2013, he served within President Susilo Bambang Yudhoyono's administration, where fiscal management and financial-sector stability were central concerns. He subsequently led Bank Indonesia as governor from May 2013 to May 2018, operating within the statutory framework of an independent central bank responsible for monetary and financial stability.

Connections

Martowardojo is married and has children. His children include Adri Prasetyo Martowardojo and Aswin Dwiyanto Martowardojo.

child:

Adri Prasetyo Martowardojo

child:

Aswin Dwiyanto Martowardojo

References

• Bank Indonesia Annual Report 2014 Provides an institutional biography of Martowardojo, documenting his education, banking career, appointment as Minister of Finance, and service as Governor of Bank Indonesia.
  2015
• A Study in Complex Change: Transforming a Global Public-Sector Organization McKinsey interview and biographical profile documenting Martowardojo's public-sector leadership, education, career chronology, family status, and work at Bank Indonesia.
  2018
• Agus D.W. Martowardojo: Curriculum Vitae of Candidate of Board of Commissioners Member Corporate curriculum vitae documenting his birth details, education, executive programs, and major banking appointments.
  2019
• Bank Negara Indonesia Annual Report 2022 Documents Martowardojo's service as President Commissioner and Independent Commissioner of Bank Negara Indonesia.
  2023
• GoTo Welcomes New Commissioners and Directors Documents his appointment as a commissioner of GoTo Gojek Tokopedia.
  2023
• PLN Annual Report 2023 Documents Martowardojo's appointment as President Commissioner and Independent Commissioner of PT PLN (Persero) on September 20, 2023.
  2024