CEO Insights Magazine

In a business, the role of the Head of Legal is pivotal, requiring a comprehensive understanding of legal intricacies within various industries. As the Head of Legal at Akulaku, Samudra Hutabarat plays a critical role in steering the legal landscape for the company's multifaceted operations. He possesses a robust educational background—a Bachelor of Law from Gadjah Mada University, Indonesia, and a Master of Law from Tilburg University, the Netherlands. With over a decade of experience in corporate law, Samudra's expertise encompasses specialized areas such as mergers and acquisitions (M&A), financing, and capital markets across diverse industries. His tenure at Dentons HPRP, one of Indonesia's largest firms, further honed his skills, involving active participation in substantial domestic and cross-border acquisitions.

In his current capacity, Samudra undertakes a multifaceted role overseeing a broad spectrum of legal affairs for Akulaku's diverse ventures encompassing e-commerce, multi-finance, and banking. His responsibilities extend to advising and executing critical projects and transactions within the group of companies. This includes pivotal tasks like acquisitions, fundraising, financing, restructuring, and managing rights issues for publicly listed group entities. Samudra Hutabarat's adeptness in handling complex legal matters across industries and his strategic guidance in pivotal business undertakings underline the crucial role of the Head of Legal at Akulaku, ensuring legal compliance, fostering growth, and facilitating strategic initiatives within the company's expansive operations. Let’s read more about him from this interview snippets.

Could you provide a brief overview of your professional journey and background? What motivated you to pursue a career in the legal field, and what continues to drive you as a leader in the industry?

My decision to pursue law was sparked by my upbringing in a family devoid of any legal background. Raised in the household of a prominent Indonesian journalist—my father, I felt a desire to forge my own distinct career path. Concerned that following in my father's footsteps might cast me in the shadow of his remarkable success, I sought to chart a different course. This led me to the decision to delve into law, becoming the first in my family to explore the legal profession.

Over time, my journey has encompassed a diverse array of experiences within the legal domain. Initially practicing as a corporate lawyer for more than a decade, I later transitioned into the role of an in-house counsel at Akulaku, a leading digital financial services platform in Southeast Asia.

I am confident that my combined background as both a lawyer and an in-house counsel has afforded me a multifaceted perspective on legal matters.

How would you define Akulaku as an organization and its current position in the market?

Akulaku, operational for over seven years in Southeast Asia, has carved a strong market presence by innovatively addressing user concerns. Founded in 2016, it offers a diverse range of services including e-commerce, multi-finance, digital investment, and banking solutions across Indonesia, Thailand, the Philippines, and Malaysia.

The Akulaku app acts as a versatile platform providing various consumer finance products such as 'buy now, pay later' options, cash loans, e-commerce solutions, and lifestyle services. Since its inception, the digital credit service has served 23 million users, issuing loans totaling $7.6 billion by 2022. Additionally, its e-commerce segment has thrived, boasting 70,000+ merchant partnerships and processing over 100 million transactions in 2022 alone. These achievements firmly establish Akulaku as a leading financial platform in Southeast Asia.

Could you elaborate on your leadership style? What principles or strategies guide your approach as a leader?

As the head of legal, my role involves establishing clear legal directives and devising pragmatic solutions for intricate legal hurdles encountered by the company. A pivotal aspect of my leadership approach revolves around maintaining consistent and meaningful communication with management, stakeholders, and various business departments. By nurturing transparent communication channels, I proactively identify potential challenges, assess their implications, and propose suitable solutions, whether they pertain to legal, financial, technical, or operational matters.

Moreover, I place significant emphasis on encouraging open dialogue and valuing the perspectives of my team members. Actively listening to their input and providing regular feedback underscores my genuine dedication to understanding and meeting the needs and expectations of my team.

How do you stay abreast of current industry trends to guide your organization's trajectory for the future?

To remain informed about industry trends, I employ various effective methods. One approach involves regular engagement with industry-specific publications. I consistently share recently enacted regulations with my colleagues to ensure our collective legal knowledge remains current and comprehensive. Additionally, I actively disseminate insightful articles and relevant news items within my team, fostering a culture of continuous learning and immersion in industry developments. This proactive involvement in publications enables us to deepen our legal expertise and anticipate potential challenges.

Furthermore, I actively participate in professional networks and communities aligned with our company's areas of operation. These affiliations not only expand my professional connections but also afford me opportunities to partake in industry conversations, discussions, and events. This active engagement ensures a robust understanding of evolving industry landscapes.

What were the primary hurdles you faced when establishing yourself as a successful leader in the legal sphere? How did you surmount these challenges to achieve professional success?

Managing the intricate structure of Akulaku's company group presents challenges in meeting its legal needs, while being a leading digital financial services entity demands staying ahead in a swiftly evolving business landscape. Constant evaluation of new business models and restructuring requires careful consideration. Legal teams play a vital role in addressing potential issues, even delivering unwelcome news about barriers or the need for change.

Despite the challenges, it's the duty of legal teams to offer clear advice, weighing the pros and cons of new strategies, aligning with the company's interests. Staying informed about plans allows legal teams to advise on risks, ensuring alignment with expectations and regulations. Effective leadership involves embracing conflicts as growth opportunities and guiding resolutions as part of the legal team's responsibility.

Where do you see yourself heading in the future?

As I progress along my professional path, my ambitions extend beyond the realm of legal affairs. I envisage making a substantial impact, not solely on the company's accomplishments but also on the wider scope of Indonesia's financial services industry.

Samudra Hutabarat, Head of Legal, Akulaku

Samudra, with degrees from Gadjah Mada and Tilburg University, has over a decade's experience in corporate law. At Akulaku, he manages legal affairs across diverse businesses, spearheading crucial projects and transactions.