Bank of America N.A. Jakarta Branch | PT Merrill Lynch Sekuritas Indonesia
It takes the right resources and on-the-ground experience to succeed in Indonesia
About PT Merrill Lynch Sekuritas Indonesia
PT Merrill Lynch Sekuritas Indonesia (“the Company”) was established in Jakarta within the framework of the Foreign Capital Investment Law No. 1 year 1967 based on Deed No. 4 dated 5 December 1994 of Harvey T. Sondak, SH, notary in Jakarta.
On 1 January 2009, Merrill Lynch & Co., Inc., (ML) the former parent of the Company was acquired by Bank of America Corporation (BAC) and as a result, ML continued as a surviving company and become a subsidiary of BAC, until ML was merged with and into BAC on 13 September 2013. Therefore, BAC is the ultimate parent of the Company.
In accordance with article 3 of the Company’s Articles of Association, the scope of its activities is to engage mainly as the securities underwriter.
In its decision letter No. KEP-01/PM/PEE/1996 dated 8 January 1996, the Indonesian Capital Market Supervisory Agency (Bapepam), now Financial Service Authority (OJK), granted the Company a license as underwriter.
The Company’s office is located at Sequis Tower Level 25, Jl. Jend. Sudirman Kav. 71, SCBD (Sudirman Central Business District) Lot 11B Jakarta 12190, Indonesia, (T)+6221.29553888, (F)+6221.29553877
As at 31 December 2021, the members of the Company's Boards of Commissioners and Directors are as follows:
Commissioner: Andrew Briski, Harish Aggrawal
Independent Commissioner: Gyanesh Nigam
President Director: Samuel D. Resowijoyo
Directors : Prijadi, Hartiani Rahayu
Profile of the Board of Directors
Samuel Darmawan Resowijoyo, President Director
Indonesian citizen, graduated from University of Oregon majored in Economics in 1991. He commenced his career with PT. Asia Equity Jasereh in 1994, and as Head of Dealing of PT Merrill Lynch Sekuritas Indonesia before moved to PT. BNP Paribas Securities Indonesia. In 2012, he moved back again to PT Merrill Lynch Sekuritas Indonesia as the Head of Risk Management function and appointed as the President Director since December 2016.
Indonesian citizen, Director of the Company since 2011. Graduated from STIE YAI in 1995 majored in accounting and started his career at Joseph Susilo & Rekan Public Accountant Firm in 1995 before moved to Deloitte Tax Solution in 1997. Joined PT Merrill Lynch Sekuritas Indonesia in 1997as Finance Manager before be appointed as director of the Company.
Hartiani Rahayu, Director
Indonesian citizen, graduated from University of Indonesia with bachelor degree majoring Accounting. Commenced her career as transfer pricing analyst at MUC Consulting group in 2010. In 2011, she started her career in capital market industry as Staff of Exchange Member Compliance Division at Indonesia Stock Exchange. In 2014, she moved to PT Danareksa Sekuritas (now: PT BRIDanareksa Sekuritas) with the last position as Audit unit head. Continuing her career in capital market, in 2019, she moved to PT Macquarie Sekuritas Indonesia before joining PT Merrill Lynch Sekuritas Indonesia in 2021. She was appointed as Director of the Company since November 2021.
Securities Company Representative License Holders
- Samuel Resowijoyo, Indonesian Citizen, the holder of Underwriter representative license (WPEE)
- Hartiani Rahayu, Indonesian Citizen, the holder of Broker-dealer representative license (WPPE)
- Prijadi, Indonesian Citizen, the holder of Broker-dealer representative license (WPPE)
- Caroline Meiliana Djuhana, Indonesian Citizen, the holder of Broker-dealer representative license (WPPE)
- Darryl Hendrawan, Indonesian Citizen, the holder of Underwriter representative license (WPEE)
Organization Chart of PT Merrill Lynch Sekuritas Indonesia
Products and Services
PT Merrill Lynch Sekuritas Indonesia does not facilitate securities repurchase agreement (Repo) transaction
Procedure on Customer Complaint and Reporting of Breaches
To provide service and complaints resolution in the financial services sector.
Procedure Details on Receiving Complaint
- Complaint is an unsatisfactory expression from Consumer, either in verbal or written form, which is caused by loss and/or potential material loss, reasonable and directly to the Consumer due to breach of agreement and/or financial transactions documents which have been agreed.
- The customer provides the complaint to customer complaint service officer in writing supplemented by
- Identity of the Consumers and/or Consumer Representatives: full name, residential address and phone number which may be contacted;
- Special power of attorney;
- Type and date of Financial Transaction; and
- The submitted problem.
- Verbal Complaint will be followed up within 5 (five) business days since the Complaint is received. In the event supporting documents for verbal Complaint is required, Consumer and/or Consumer Representatives will be required to submit the Complaint in writing by enclosing the required supporting documents.
- The Company shall immediately follow up and resolve complaints no later than 20 (twenty) working days since the complaint documents are received completely.
- In the event of certain conditions, the Company may extent the period up to a maximum of 20 (twenty) working days afterward;
- The extension of completion period of the complaint above shall be notified in writing to consumers who filed complaints before the end of period referred to in item 5.
Customer Complaint and Reporting Services
For customer complaint and reporting on breach, please contact:
Complaint Service Team
Tel : +6221.29553888
Fax : +6221.29553877
Email DG MLINDO Complaint Service Team:
Complaint Handling Publication
Function and Policy on Risk Management, Compliance and Internal Audit
For the implementation of internal control in accordance with Otoritas Jasa Keuangan rule No. 57/POJK.04/2017, the Company establishes the function of Risk Management, Compliance and Internal Audit as follow:
The implementation of risk management function of the Company shall at least cover:
- preparation of policy on risk management;
- testing, evaluation, and recommendation of objective improvement for the implementation of risk management system, at least by annually or within more frequent frequency in case there is change of factor affecting the business activity of the Company significantly; and
- monitoring, identification, measurement, and follow up related to any matters related to risk management requiring the attention of the Board of Directors.
The implementation of compliance function of the Company shall at least cover:
- preparation of policy on compliance;
- testing, evaluation, and recommendation of conformance of policy, provisions, system or procedure owned by the Securities Company to the provisions in the legislation at least by annually or in the more frequent frequency in case there is change of factor affecting the business activity of Securities Company significantly;
- monitoring, identification, measurement, and follow up related to any matters related to compliance requiring attention of the Board of Directors.
The implementation of internal audit function of the Company shall at least cover:
- preparation of policy on internal audit;
- preparation and implementation of adequate audit program to entire work units of which the implementation shall take into account the risk degree in each work unit; and
- monitoring, identification, measurement, and follow up related to any matters related to internal audit requiring attention of the Board of Directors.
AGMS Minutes of Meeting Summary
Circular Resolutions of The Sole Shareholder of PT Merrill Lynch Sekuritas Indonesia in Lieu of the Annual General Meeting of Shareholders dated 30 June 2021 has decided the following:
- To approve the Company’s Annual Report and subsequently give full discharge to members of the Board of Directors and the Board of Commissioners of the Company for any actions taken by them within the for the period of the financial year ending December 31, 2020 to the extent such actions are reflected in the books of the Company;
- To approve the appropriation of net profits for the financial year ended 31 December 2020 as follows:
- IDR 10,120,000,000 for reserve fund (the additional 20% of IDR 550,000,000) is required to allocate as appropriation); and
- Distribute as dividend in the amount of IDR 44,000,000 to holder of class B shares as proposed by the Board of Directors of the Company
- To confirm no provision of remuneration to the Board of Directors and honorarium for the Independent Commissioner for the financial year 2020 in the amount of USD 18,388;
- To approve that KAP Tanudiredja, Wibisana, Rintis & Rekan (a member of the PricewaterhouseCoopers network of firms) be appointed as the Company's external auditors for the accounting year 2021 based on the recommendation provided by the Board of Commissioners;
- To reappoint all members of the Board of Directors of the Company which shall expire at the close of this meeting whose term of office shall expire on the close of the annual general meeting of the shareholders of the Company in 2024;
- PT Merrill Lynch Sekuritas Indonesia – Audited Financial Report as of 31 December 2021
- PT Merrill Lynch Sekuritas Indonesia – Audited Financial Report as of 31 December 2020
- PT Merrill Lynch Sekuritas Indonesia – Audited Financial Report as of 31 December 2019
- PT Merrill Lynch Indonesia – Audited Financial Report as of 31 December 2018
- PT Merrill Lynch Indonesia – Audited Financial Report as of 31 December 2017
- PT Merrill Lynch Indonesia – Audited Financial Report as of 31 December 2016
P T Merrill Lynch Sekuritas Indonesia is registered and supervised by the Financial Service Authority of Indonesia