PETALING JAYA – GXBank has announced a leadership reshuffle at the top, with founding CEO Pei-Si Lai set to become GXS Bank Group CEO effective June 1, following the retirement of current group head Muthukrishnan Ramaswami.
Pei-Si, who led GXBank through its successful launch in late 2023, will hand over the reins of the digital bank to Kaushik Chowdhury, the current deputy CEO and Chief Commercial Officer (Retail). Kaushik will be supported by Hildah Hamzah, who assumes the role of deputy CEO and Chief Operating Officer (COO).
GXBank Chairperson Datuk Zaiton described the transition as a testament to the bank’s strong internal leadership pipeline.
“We are proud of GXBank’s accomplishments,” she said.
“Pei-Si’s visionary leadership delivered significant milestones, establishing the bank as a leader in Malaysia’s digital banking landscape. Together, the team has navigated the complexities of launching a new financial institution from the ground up.”
Pei-Si has been credited for spearheading GXBank’s rapid rise, including the onboarding of over one million customers within a year and securing multiple accolades such as Best Malaysian Digital Bank and awards for compliance and innovation.
Reflecting on her time at GXBank, Pei-Si thanked the pioneering team, partners, and regulators for their role in the bank’s early success.
“With Kaushik, Hildah and the team’s commitment and clarity of purpose, I am confident that GXBank will continue to deliver on its mission to improve financial inclusion for all Malaysians,” she said.
“I’m also deeply grateful to Bank Negara Malaysia and the Board of Directors for their trust and belief.”
Kaushik and Hildah’s appointments signal continuity as well as a fresh chapter for GXBank. Both bring years of experience in the financial sector, and are expected to deepen the bank’s reach in retail and MSME banking — core pillars of its strategy to promote financial resilience and inclusivity.
GXBank began operations in September 2023 as Malaysia’s first digital bank regulated by Bank Negara Malaysia. It is backed by GXS Bank Pte. Ltd. — a joint venture between Grab Holdings and Singtel — alongside local shareholders including the Kuok Group. Deposits are protected by PIDM up to RM250,000 per depositor. – May 15, 2025