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Grab-led Singapore digital bank executive steps down

Reuters SG
·1-min read

Nov 9 (Reuters) - GXS Bank, the digital banking joint venture between ride-hailing company Grab Holdings and Singapore Telecommunications, on Wednesday said its Executive Director Rueben Lai would leave the bank at the end of this year.

Lai would also step down from the role as a director on GXS' board in Singapore, the bank said in an emailed statement. However, Lai would remain on the board of the digital bank in Malaysia.

In August, GXS bank launched Singapore's first digital bank and bundled it with a savings account after it secured the full digital banking licence from the Monetary Authority of Singapore in 2020, while expanding in other Southeast Asian countries. (Reporting by Tejaswi Marthi in Bengaluru; Editing by Dhanya Ann Thoppil)