Barclays has hired Agung Prabowo as head of investment banking in Indonesia, replacing Sity Leo Samudera, who has retired after seven years in the role.
Prabowo joins from UBS, where he was an executive director responsible for originating investment banking transactions and liaising with government officials and regulatory bodies. He left the Swiss firm three months ago and took up his Jakarta-based position at Barclays this week.
Prabowo will be responsible for building and maintaining client relationships in Indonesia and identifying and capturing business opportunities across the complete spectrum of advisory, capital raising and risk management, according to the statement. It is a key role as Barclays continues to grow its coverage of Indonesia.
He reports directly to Sandeep Pahwa, head of investment banking for Southeast Asia, and to Matthew Ginsburg, Asia-Pacific head of investment banking.
“Bringing on board an experienced banker of [Prabowo’s] calibre demonstrates how important Indonesia is to Barclays,” said Ginsburg. “His breadth of expertise underlines our commitment to providing a superior full-service product offering to our Indonesian clients.”
Prabowo has an extensive brief. He will cover all product lines, and try to leverage business from all of Barclays’ sector and product teams to generate both inbound and outbound M&A transactions, according to a spokesperson.
“Having built his investment banking career over many years in Indonesia, his extensive experience and deep client relationships will further support the growth of our business in this important market,” added Pahwa.
Before working at UBS, Prabowo was head of investment banking at leading domestic firm Mandiri Sekuritas. In total, he has about 17 years of experience in the financial industry.