After four years as CEO of GXS Bank, Charles Wong has announced he will step down from his role and move into an advisory role.
During his tenure, Charles Wong led the launch of GXS Bank, a digital bank backed by Grab Holdings and Singtel, in August 2022.
Charles also led the development of key products such as the GXS Savings Account and GXS FlexiLoan.
He highlighted the integration of digital banking with everyday apps such as Grab and Singtel as a major achievement.
Charles is LinkedIn Post,
“Being a challenger bank is not easy, but we continue to work hard for our clients. I’m grateful to the GXS Board and leadership team for believing in us and our potential.”
And I’d like to thank all my colleagues at GXS. Your care for customers and passion for making banking better every day is why I’m confident GXS will succeed.”
GXS Bank Group CEO Muthukrishnan Ramaswamy thanked Wong for his leadership and contributions and noted the strong foundation he has built.
“Building a challenger bank is not easy, but Charles led the way in building GXS from the ground up, and we now have GXS’s unique DNA focused on customer centricity.
This DNA will ensure that GXS continues to grow and remains focused on our mission to improve banking in Singapore.”
in spite of Secures additional funding of S$229.5 million GXS Bank has received funding from backers Grab and Singtel and is facing mounting losses.
Bank Total revenue to triple to S$16.13 million by 2023This was up from S$5.1 million a year earlier, but losses widened to S$208.2 million from S$131.1 million.
This was mainly due to a 57% increase in operating expenses to S$214.2 million, driven by higher staff costs, which increased from S$76.4 million to S$119.3 million.
