Digital Banking

GXS Appoints Banking Veteran as Group CEO for Singapore, Malaysia

Grab and Singtel’s GXS Bank has appointed Muthukrishnan Ramaswami as its Group Chief Executive Officer, effective from 7 February. The appointment is subject to regulatory approval.

Fondly known as Ramu, the new appointee will be focused on GXS’ ambition to serve more individuals and small businesses in Singapore and Malaysia as well as lead regional partnerships.

A veteran in the financial services industry, Ramu 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.

This included leading the technology operations and services strategy in 42 countries as Chief Information Officer for Citibank’s international retail banking business.

More recently, Ramu spent 12 years as President of the Singapore Exchange (SGX), during which he also served as CEO of all of the exchange’s regulated subsidiaries.

Since stepping down from his role at SGX in 2019, Ramu has served on various boards including GovTech Singapore and Temus (a digital transformation company established by Temasek in partnership with UST, a global digital services company).

Muthukrishnan Ramaswami

Ramu said,

“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.

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.”

Hsieh Fu Hua

Hsieh Fu Hua, Chairman of the GXS Board in Singapore said,

“We warmly welcome Ramu who is familiar to our Board as a leader in the financial services industry.

Ramu’s appointment as Group CEO further strengthens our leadership bench and we are confident that Ramu’s experience and industry knowledge will contribute to GXS’s next phase of growth.”