Charles Wong, the CEO of Singapore-based digital bank GXS, announced that he has stepped down after four years in the role.
Taking to LinkedIn, Wong wrote: “GXS has come so far, developing the GXS Savings Account which is designed to address the gaps that hinder everyday consumers to rolling out the GXS FlexiLoan which is designed to empower consumers to pursue their dreams instead of being shackled by loans. We have built a bank that is integrated in your everyday apps – Grab and Singtel.
“After four years of fulfilling but relentless work, I am stepping down as GXS Bank CEO and taking on the role of an adviser to the bank.”
The bank said Wong’s position will be assumed by group CEO Muthukrishnan Ramaswami.
Wong began his career as an assistant marketing manager at Citi, where he went on to spend over two decades, climbing up the ranks to serve as managing director, head of retail banking, from 2015 to 2020. He then went on to work at Grab as senior managing director, serving in the role for two years, before joining GXS Bank as CEO.
Launched in 2022, GXS Bank claims to be Singapore’s first digital bank for consumers and businesses and is backed by a consortium consisting of tech giant Grab Holdings (Grab) and telecom conglomerate Singtel. It holds a banking licence from the Monetary Authority of Singapore (MAS).
Its first product at launch was a savings account designed to address the “pain points” of consumers, with features such as earning daily interest and zero minimum balance requirements.
