Indonesian law firm Makarim & Taira S has appointed its banking and finance lawyer Maria Sagrado as the new managing partner, succeeding litigator Lia Alizia, who has been at the helm since 2017.
Alizia is now a partner at the firm’s corporate commercial and litigation department.
Since joining the firm 22 years ago and becoming a partner in 2013, Sagrado has established an extensive portfolio of prominent clients, earning high credibility in the banking, corporate and fintech sectors.
As a partner, she has exhibited leadership skills with her meticulous and adaptable attitude, creating a favourable working atmosphere for her teams and paving the way for promising young lawyers.
“Makarim & Taira S has been a leading law firm in Indonesia for more than 30 years and we intend to maintain our top-tier position,” Sagrado told Asia Business Law Journal.
“Our strategies include adapting to change, especially in business technology, to maximise our results and the value we deliver to clients.”
As a banking and finance expert, Sagrado saw innovation become a double-edged sword in the industry in Indonesia. While innovation brings new opportunities and convenience, it also poses challenges to humanity and the way people interact in society.
“The banking and finance industry is experiencing many innovations in terms of products and systems, accompanied by constantly evolving regulations,” said Sagrado.
“It’s essential for banks and finance companies to keep up with all these innovations. Embracing breakthroughs and maintaining an open-minded approach will be vital for them to keep up to speed with developments and to compete with non-banks or non-finance companies.”
Apart from that, ensuring compliance with new laws and regulations is also crucial, as Sagrado anticipated banks and finance companies to experience more innovation, leading to the adoption of new products and systems.
“For this, collaborations with various supporting companies, including telcos and payment system providers, will increase the variety of products and systems available in the market,” she said.
To embrace the new challenges, Sagrado said lawyers need to stay updated with the latest market developments, including new products such as digital assets, digital currencies and bullion. Furthermore, the firm should strive to provide innovative solutions for new business models.
“One of our key strengths is the combination of experience from our senior lawyers and fresh perspectives from our younger lawyers,” Sagrado added. “This winning approach helps Makarim & Taira S to adapt and grow stronger in the market.”