GXS Bank has appointed ex-Singapore Exchange (SGX) president Muthukrishnan Ramaswami as its group CEO, effective Feb 7 subject to regulatory approval.
The company saiys Ramaswami will be instrumental to its ambition to serve more individuals and small businesses in Singapore and Malaysia. He will also lead regional partnerships in which GXS can benefit from economies of scale.
Ramaswami has more than 35 years of experience across a range of financial businesses including exchanges, clearing houses as well as retail and wholesale banking.
He has held regional and international leadership roles across Singapore, Hong Kong, India, London and New York.
Ramaswami served various boards including at GovTech Singapore and Temus, a digital transformation company established by Temasek in partnership with global digital services company UST.
Prior to that, he spent 12 years as the president of SGX, during which he also served as CEO of all of the exchange’s regulated subsidiaries. He stepped down from the role in 2019.
See also: OCBC China appoints Seth Tan new head of corporate banking
“Digital banks have an increasing and important role to play in extending banking and credit facilities to a large and underserved group of individuals and businesses across Southeast Asia,” says Ramaswami.
“As a digital bank that has been built purposefully to serve the needs of this segment, GXS has a huge opportunity to be a significant player in Singapore and Malaysia. I look forward to helping the GXS team fulfil its potential in becoming a leader in this space," he adds.
