The role of asset management in banking is growing rapidly and has become a strategic pillar of the financial industry. This was conveyed by Ernawan Rahmat Salimsyah, Executive Director and Chief Investment Officer of PT Mandiri Manajemen Investasi, during a guest lecture at SBM ITB on Friday (November 14th).
He emphasized that the integration between banks and investment managers is increasingly tighter in line with increasing customer needs and market complexity. Mandiri Manajemen Investasi itself is a subsidiary of PT Mandiri Sekuritas, a local securities and brokerage firm under Bank Mandiri.
In his presentation, entitled “The Evolving Role of Asset Management within the Banking Ecosystem,” Ernawan stated that the function of modern banking is no longer limited to intermediation, transaction services, and advisory services. These three functions are now supported by investment managers’ ability to offer a wider range of investment solutions.
“Market needs are changing rapidly, and complexity is increasing. Banks cannot work alone,” he said.
The asset management business, he said, is no longer limited to managing public funds through products such as equity mutual funds, bonds, money market instruments, and ETFs. Investment managers are now expanding into private fund management, including private equity, private debt, and Real Estate Investment Trusts (REITs). Furthermore, discretionary contracts for individual clients are becoming part of the service portfolio.
This service expansion also reflects an expanding customer base: financial institutions, insurance companies, pension funds, government agencies, distribution partners such as banks and fintech platforms, as well as mass-affluent and high-net-worth retail investors.
“In the modern banking ecosystem, asset management is the heart of wealth management services,” said Ernawan.
He emphasized that the essence of asset management remains the same: raising funds and allocating them across various asset classes in line with clients’ objectives and risk profiles. However, geopolitical volatility, macroeconomic conditions, and regulatory changes require investment managers to be more adaptive, data-driven, and innovative in their strategy design.
According to Ernawan, the synergy between banks and asset management opens up opportunities to strengthen investment services and respond quickly to capital market dynamics. This transformation positions asset management as a core value-creating function in the financial industry.
This lecture provided students with a firsthand look at the evolution of asset management and its relevance to professional competency in the financial sector. Following the guest lecture, Ernawan met with the Dean and Vice Dean for Academic Affairs at SBM ITB to discuss collaboration opportunities, ranging from internship programs to joint research between SBM ITB and Mandiri Manajemen Investasi.
