Indonesia Wealth Fund Co-CIO Resigns as Leadership Gap Grows

Indonesia Investment Authority’s Co-Chief Investment Officer Andry Setiawan has resigned, deepening a leadership vacuum at the country’s first sovereign wealth fund and raising questions about its future direction, according to people familiar with the matter.

Setiawan, one of the two chief investment officers, resigned earlier this month and is serving his notice period, the people said Tuesday, who asked not to be identified discussing private matters. His resignation leaves just two of INA’s five board positions filled by regular, rather than acting, appointments.