Market Veteran Jeffrey Hendrik Named New Indonesia Stock Exchange Chief

JAKARTA, Investortrust.id — The Financial Services Authority (OJK), Indonesia's financial regulator, has officially tapped market veteran Jeffrey Hendrik to lead PT Bursa Efek Indonesia (BEI), the Indonesia Stock Exchange (IDX), as its new President Director for the 2026-2030 tenure. The high-stakes appointment marks a critical leadership transition for Southeast Asia’s largest capital market as it navigates shifting macroeconomic tides.

Hendrik, who has been steering the bourse as the Acting President Director since February 12, 2026, successfully cleared the regulator's rigorous fit and proper test. His formal appointment will be finalized during the IDX Annual General Meeting of Shareholders (AGMS) on June 29, 2026. This transition concludes the leadership term of outgoing chief Iman Rachman.

The leadership shakeup at the helm of the IDX comes at a pivotal moment as international asset managers demand stronger corporate governance and deeper liquidity in emerging markets. Hendrik brings over three decades of deep-rooted market expertise, notably serving over 20 years as the head of local brokerage PT Phintraco Sekuritas and actively participating in OJK’s Sustainable Finance Task Force since 2021. His extensive background suggests a strategic push toward modernizing Indonesia's trading infrastructure, strengthening derivatives markets, and aggressively expanding ESG (Environmental, Social, and Governance) frameworks to attract foreign institutional capital.

A 30-Year Market Veteran Takes the Helm

Hendrik is an insider who understands the plumbing of the Indonesian financial system. He kicked off his career in the mid-1990s with PT Zone Pratama and corporate finance at PT Transpacific Securindo before building a formidable reputation during his multi-decade tenure at Phintraco Sekuritas from 1999 to 2022.

His climb to the top apex of the exchange was cemented during his recent role as the IDX Development Director, a position he secured in June 2022. He has also been a core fixture in industry policymaking, serving on the IDX Securities Trading and Settlement Committee as well as the Association of Indonesian Securities Companies (APEI).

The New Board and Regulatory Scrutiny

Regulators are keeping the new leadership on a tight leash to ensure market stability and growth momentum. Hasan Fawzi, OJK's Chief Executive of Capital Market Supervision, Derivatives Finance, and Carbon Exchange, confirmed the leadership roster through a text message on Thursday, June 18, 2026, stating that the appointment strictly aligns with the official OJK decree already delivered to the IDX board.

OJK underlined that under current capital market regulations, the watchdog retains the absolute authority to evaluate or dismiss any board member who fails to demonstrate a clear commitment to market development or falls short of operational targets. The regulatory body is required by law to publicize the final board structure to the public at least seven days prior to the June 29 shareholders' meeting.

Hendrik will lead a revamped seven-member executive team designed to balance continuity with fresh reform. The incoming board includes Saidu Solihin as Director of Company Valuation, Irvan Susandy as Director of Trading and Membership, and Yulianto Aji Sadono as Director of Transaction Supervision and Compliance.

Rounding out the executive suite are Abdul Munim as Director of Information Technology and Risk Management, Iding Pardi as Director of Development, and Umi Kulsum, who will take over as Director of Finance, Human Resources, and General Affairs.