GXS Bank has announced the retirement of its Group Chief Executive Officer, Muthukrishnan Ramaswami, effective 31 May 2025. Ramaswami, who joined the bank in February 2023, will continue to contribute as a Senior Adviser. Pei-Si Lai, currently the CEO of GXBank in Malaysia, will succeed him as Group CEO from 1 June 2025.
Lai’s appointment marks a significant transition for GXS Bank, as she brings extensive experience in digital banking. Under her leadership, GXBank became Malaysia’s first digital bank, achieving rapid growth and industry recognition. During her tenure, GXBank welcomed over a million customers and completed more than 124 million transactions within a year.
Ramaswami’s tenure at GXS Bank was pivotal in establishing the bank’s regional technology and data infrastructure, enabling the launch and scaling of digital banks in Singapore, Malaysia, and Indonesia. His leadership facilitated the acquisition of Validus Capital, marking the first merger and acquisition by a digital bank in Singapore.
Chairman of the GXS Bank Board, Hsieh Fu Hua, expressed gratitude for Ramaswami’s contributions, stating, “We are much indebted to Ramu for helping us build regional capabilities and infrastructure.” He also expressed confidence in Lai’s ability to lead the bank, noting her unique experience and understanding of digital banking’s impact.
As GXS Bank continues its mission to drive financial inclusion and innovation across Southeast Asia, Lai’s leadership is expected to further the bank’s ambition of becoming the region’s leading digital bank.
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