Khazanah to Assign Glenn Yusuf to Lead Bank Niaga

Khazanah Nasional Berhad is mulling to assign Glenn Muhammad Surya Yusuf to become the president director of Bank Niaga, and it has informally discussed the plan with Bank Indonesia.
My source said that Glen will replace Hashemi Albakri, the present president director of Bank Niaga.
"Khazanah has informally talked with BI on possible assignment of Glen Yusuf. The plan is being discussed seriously," he said yesterday.
Bank Niaga has established a team to review possible merger with Bank Lippo. The members of the committee are representatives of Bank Niaga, Bank Lippo, CIMB, Khazanah Bhd, and independent members Glenn Yusuf and Abdul Gani.
Glenn has started his carrier at Citibank in 1982 as a trainee, then a lease officer of the bank in 1982-1983. He became the manager of Citicorp Capital Market Group Citibank in 1983-1985.
In 1985-1989 he became the general manager of Bank Niaga in Los Angeles, and in 1989-1990 he become the Investment Banking Group of Bank Niaga and then Finance Director of the same bank in 1994.
He became the president director of Danareksa in 1998, and then the Chairman of Indonesian Bank Restructuring Agency in 1998-2000. Since then he chaired PT London Sumatra Plantation Tbk. He was successful in recovering the company's performance and the stock price.
Khazanah has assigned PT JP Morgan Securities Indonesia as the financial consultant for the merger of Bank Niaga and Bank Lippo. Khazanah also will assign Melli Darsa & Co and Hadiputranto, Hadinoto & partner as the legal advisor.
The merger plan of Bank Niaga and Bank Lippo is driven by Bumiputera-Commerce Holdings Berhad, the second largest bank in Malaysia and a leading bank in Southeast Asia. It controls 63.13% shares of Bank Niaga through CIMB Group and 87.5% shares of Lippo Bank through Khazanah Nasional Bhd.