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June 2018 - FORBES Indonesia

This month's cover subject is Tigor Siahaan, the president director of PT CIMB Niaga. He's a veteran banker, with more than two decades of experience, mostly at Citibank, one of the world's biggest global banks. He already had four years of experience running Citi's operations in Indonesia before he stepped into the role at CIMB Niaga. It may seem like an easy transition at first glance, but there are several key differences between the two banks. For one, Citi operates in about 100 countries, while CIMB Niaga is a Malaysia-based regional bank. In Indonesia, Citi is a big brand but not necessarily a big bank, while CIMB Niaga is the country's fifth largest by assets.

Tigor's strong hand in restoring the bank came just as the economy also turned around, so he was able to position the bank to fully maximize the opportunity when it came. As the old saying goes, one key to success is to make your own luck. From a time in 2015 when many of the bank's arrows on its quarterly reports were pointing down, these days Tigor can deliver reports where those same arrows are pointing up. He was also tasked with a repair job -- the weak Indonesian economy had contributed to a decline in the bank's franchise.

Tigor has embraced that innovative spirit and is further extending it with additional firsts, such as "digital lounges" to replace traditional bank branches. With the fintech revolution now sweeping the financial services industry, CIMB's history in adopting technological change, rather than resisting it, should serve it well as banking's digital future unfolds. It will be interesting to see where Tigor will next take CIMB Niaga on its -- and his journey.

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