Malaysia’s first digital bank, GXBank, has announced changes in its senior leadership, with current CEO Pei-Si Lai set to become Group CEO of GXS Bank effective 1 June 2025.
The transition follows the planned retirement of outgoing Group CEO Muthukrishnan Ramaswami.
The group operates as GXS Bank in Singapore and GXBank in Malaysia and works closely with Indonesia’s Superbank, which shares the same parent companies, Grab and Singtel.
Kaushik Chowdhury, who currently serves as GXBank’s Deputy CEO and Chief Commercial Officer (Retail), will succeed Pei-Si as CEO of the Malaysian digital bank.
He will be supported by Hildah Hamzah, who steps into the role of Deputy CEO and Chief Operating Officer.
Pei-Si has led GXBank since its official launch in November 2023, during which the bank reportedly attracted over one million customers and received several industry awards.
GXBank emerged as the frontrunner in Malaysia’s digital banking sector, commanding the largest share of customer deposits with RM2.16 billion as of September 2024.
Datuk Zaiton, Chairperson of GXBank, said,
“We are proud of GXBank’s accomplishments. Her visionary leadership resulted in significant milestones, firmly establishing GXBank as a leading digital bank in Malaysia.
Together, the management has navigated the challenges of a new startup institution and built the bank to what it is today.”
She added that the appointments of Kaushik and Hildah reflect strong internal succession planning.
Both leaders are expected to continue the bank’s efforts to expand access to financial services for individuals and small businesses in Malaysia.
Pei-Si Lai, Group CEO of GXS Bank added,
“With Kaushik, Hildah, and the team’s tenacity and conviction, I am confident of GXBank’s future growth and commitment to improve financial inclusion and resilience for all Malaysians.
My humble thanks as well to Bank Negara Malaysia, and the GXBank Board of Directors for their crucial support and belief. In my new capacity, I look forward to championing regional banking transformation across Southeast Asia within the GXS Group’s vision.”
Watch Fintech News Malaysia’s interview with Pei-Si Lai to learn how she built GXBank from the ground up.
