BNP Paribas' Remington eyes development in Indonesia despite scarce resources

"The key will be to develop the breadth of coverage and distribution of the variety of products we offer in Indonesia," says Miles Remington, BNP Paribas' new head of equities for Indonesia.

Name: Miles Remington
Bank: BNP Paribas
Job Title: Head of Equities, Indonesia
Age: 44

ABF: What makes you excited about your new position?
Having been described as a veteran of Hong Kong having been involved in the markets here for the last 20 years, the opportunity to change focus is the biggest excitement, a luxury not often afforded. To have a chance to be involved at the next phase of growth for one of the most interesting investment stories globally at this or indeed at any time. Indonesia is a huge country in terms of population and geography, a member of the G20, with strong demographics, growth, leadership and most important of all, potential to be THE Asian Tiger entering the 21st Century.

ABF: What three goals are you focused on?
Establishing BNP Paribas Indonesia as a core counterpart for the clients, looking to develop partnerships in the way we drive the business moving forward, and providing our clients with a port in any storm. I’ll be working with colleagues to plan and execute BNP Paribas’ strategy, and of course to help our clients seek out opportunities and to achieve better and lasting results. If we can achieve all this with a smile on our faces and make the long hours we spend together in the office a delight, so much the better.

ABF: What will you do differently in this position?
The world of Investment Banking and finance has undergone massive changes over the last couple of years and adapting to the new normal is the biggest hurdle for any of us moving forward. It is important to understand that resources are scarce, funding scarcer and that we cannot even hope to be all things to all people. I believe that the best way to be profitable is to understand where you are good and concentrate on this. Cultural understanding is also the most important way of building and gaining trust.

ABF: What changes are you planning for?
Develop as any and all situations arise - the best laid plans often go awry! BNP Paribas has a strong operation in ASEAN markets and initially the key will be to develop the breadth of coverage and distribution of the variety of products we offer in Indonesia where we already have 6 equity analysts focused on the core sectors of commodities, consumer and energy. From here we will adapt to any market challenges, in line with the rest of the industry, whilst focusing on our core strengths.

ABF: What are your key business philosophies?
Learn the rules, do the basics right, gain the team’s trust and ensure everyone’s noses are pointing in the same direction. Always be able to look at yourself in the mirror at the end of the day as we only have our reputation when all is said and done. This is our most precious attribute and not to be taken lightly.

ABF: What previous positions prepared you for this one and how?
Having worked in Asia Pacific for over 20 years, and being part of the most phenomenal growth story of the last century really opened my eyes to the enormous potential of this region. It’s made me notice how much quicker these days we are able to see the return on a sensible investment, as well as noticing how cycles appear to be getting shorter and shorter. I’ve well used to this fast pace, having worked at the forefront of the Asia growth story for many years. Having helped to promote the investability of China will hopefully set me up to watch the same thing happen in Indonesia.

ABF: Anything else you'd like to add?
I would like to welcome the world to Indonesia and the potential that is Indonesia. I’m enthusiastic to be able to shine a spotlight on the country through BNP Paribas equity research teams in the region, and will be actively championing its myriad of opportunities to global investors. Indonesia’s potential for growth is huge, and I’d like to invite the readers to come and experience this captivating country for themselves