Lippo Securities' new boss

JAKARTA (JP): Eddy Handoko has been appointed the new president of the Lippo Group's securities arm PT Lippo Securities.

The company said yesterday Handoko, currently deputy president of Lippobank, would replace Charles de Queljoe, who has been assigned as a Lippo Group representative to the United States.

Handoko's appointment is now pending approval from the company's shareholders who will meet in May.

Lippobank president Markus Permadi said Handoko has played an important role in the development of the bank.

"He is the best candidate to head Lippo Securities," Markus said.

Lippo Securities, listed on the Jakarta Stock Exchange and the Surabaya Stock Exchange, recorded total assets worth Rp 14.5 trillion in 1997. It has 1.9 million customers and 462 branches. (aly)