[SINGAPORE] GXS Bank has announced that chief executive Muthukrishnan Ramaswami will be retiring on May 31.
His successor will be Lai Pei-Si, CEO of GX Bank, the Malaysian arm of GXS, it said on Wednesday (May 14). Lai will take over as GXS CEO on Jun 1, with GX Bank deputy CEO Kaushik Chowdhury taking over her role.
Ramaswami will remain as a senior adviser to GXS.
Lai has been the CEO of GX Bank since 2022, when it received a digital banking licence in Malaysia. The bank has grown to more than a million customers a year since its launch in November 2023, and processed over 124 million transactions.
Both Lai and Ramaswami oversaw the recently announced Validus acquisition.
“As a veteran banker with the unique experience of having launched Malaysia’s first digital bank, Pei-Si understands the tremendous impact that digital banks can bring to our communities,” said Hsieh Fu Hua, chairman of GXS.
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