Indonesia's new elite
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Indonesia's new elite

Showing the new face of Asia

Glenn Yusuf: chairman, IBRA
Gunarni Soerowo: chairman, Indonesian Bankers Association
Robby Djohan: chairman, Bank Mandiri
Rini Soewandi: chairman, Astra International

In Jakarta there's a new gang in town. After 30 years of economic management by US-educated technocrats known as the Berkeley mafia - after the part of the University of California where they studied - a younger generation of financial experts is taking over the reins of power in Indonesia.

Unlike their predecessors, whose skills were in macroeconomic management, these new leaders have a sharper edge, honed in the rough and tumble of the private sector. Many of them learnt their trade as executives at Citibank, which for years has had its pick of the best and brightest young financial talent in Asia. Many of them went on to manage Bank Niaga, the private bank of choice for top-flight non-ethnic Chinese finance executives in Indonesia, and one of the few institutions likely to survive the current crisis.

Now they have moved to the top level, playing a key role in rescuing Indonesia from the depths of a financial crisis that threatened to destroy the achievements of the past 30 years.

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