Jakarta. The Deposit Insurance Agency (LPS) has appointed Didik Madiyono as acting chairman of its Board of Commissioners, effective Tuesday. The decision followed a board meeting after Purbaya Yudhi Sadewa stepped down to serve as Finance Minister in President Prabowo Subianto’s cabinet.

“Mr. Didik was chosen because he is the only commissioner who works daily at LPS headquarters, which will facilitate coordination and operations,” LPS Secretary Jimmy Ardianto said Wednesday.

Didik will lead the agency until Sept. 24, while the selection process for a new chairman, deputy chairman, and commissioners continues at the House of Representatives before final approval by the president.

A graduate of Gadjah Mada University and the Asian Institute of Management in Manila, Didik began his career as a junior dealer at Bank Duta in 1990 before joining Bank Indonesia through the bank examiner program. He spent 18 years at BI in various supervisory and regulatory roles before moving to LPS in 2010.

At LPS, he held leadership positions across claim handling, bank resolution, surveillance, and liquidation divisions. In 2014, he was appointed commissioner of Bank Mutiara to support the bank’s restructuring process. On Oct. 7, 2019, he was officially named LPS commissioner, becoming the first to rise from within the agency’s own ranks.