Alex Twigg, co-founder of Australian startup Judo Bank, has been hired for the business, which has been code-named “Project Phoenix,” the people added.
Standard Chartered PLC is planning its second digital-only bank in Asia, teaming up with a unit of Singapore’s biggest labor union, according to people familiar with the matter.
The London-based bank would hold a majority stake in the new venture, with the remainder held by NTUC Enterprise, a division of the National Trades Union Congress that also runs a chain of more than 100 supermarket outlets across Singapore, said the people who asked not to be identified as the matter remains confidential.
