Ito Warsito

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Ito Warsito
Warsito.jpg
Occupation President Director
Employer Indonesia Stock Exchange (IDX)
Location Jakarta, Indonesia

Ito Warsito was named the new president director of Indonesia's main bourse, the Indonesia Stock Exchange (IDX), in June 2009 from his previous executive position at a state-owned financial services giant. Warsito has committed the IDX to broadening both its number of investors, especially retail, and the number of listed companies over the next three years by upgrading the IDX's IT infrastructure and electronic trading capabilities to reach about 25 million Indonesians by 2012.

Background

Prior to taking the top job at IDX, Warsito was CFO at PT Bahana Pembinaan Usaha Indonesia and chief commissioner of its brokerage arm PT Bahana Securities, from where he ran a vigorous campaign for IDX President against brokerage rival I Made Rugeh Ramiah, president of PT Panin Sekuritas.[1] Warsito had worked for Bahana since 2001 after beginning his career with Indonesian Ministry of Finance and later joining local brokerage house PT Danareksa Sekuritas. Warsito has said he plans to increase the number of investors on the IDX from its present 300,000 to 2.3 million by 2012, when his first term expires, and to double its market capitalization to about US$291 billion (3,000 trillion Indonesian rupiah)[2].

Education

Warsito holds a master's degree in business administration (MBA) from the Harvard Business School.[3]

Latest News

Warsito's campaign for IDX president emphasized the exchange's need for improved IT infrastructure to draw more investors via electronic trading. In a June 29 interview in the English-language Jakarta Post a few days after his appointment Warsito said he would aim to draw in one percent of the country's total population of about 240 million as investors on the IDX in the next three years and intends to improve online trading coverage for Indonesia's many rural dwellers.[4] Warsito had earlier promised to spend about 100 billion rupiah during his term on IT upgrades to improve the IDX's remote-trading infrastructure.

References

  1. Bahana Chief Confident Of Becoming IDX President. Jakarta Globe.
  2. Sky-High Campaign Promises Propel New IDX Board to Victory. Jakarta Globe.
  3. Indonesian stock exchange picks new president. Reuters.
  4. New IDX chief vows to boost online trading and build trust. Jakarta Post.