Indonesia's newly established sovereign wealth fund Danantara is planning to create a national asset management company by merging the asset management divisions of several major state-owned banks, reported Bloomberg, citing sources. Danantara plans to recruit advisers to support this initiative, which involves asset management units of PT Bank Rakyat Indonesia (BRI), PT Bank Mandiri, and PT Bank Negara Indonesia (BNI). It aims to create a larger asset manager capable of competing both domestically and r ...