Whampoa Group, a Singapore-based private investment group, has announced the appointment of veteran banker Edmund Lee as Chairman of its digital bank, Singapore Gulf Bank (SGB), in Bahrain.
This strategic move aligns with the Group’s expansion into the Middle East and North African (MENA) regions.
Lee also serves as the Founding Chairman of Asia Gulf Holdings (AGH), the parent company of SGB and a key player in Whampoa’s strategic investments across Asia and the MENA regions.
AGH’s establishment of SGB marks a significant stride in connecting conventional and digital financial services, enhancing financial integration between Asia and the MENA regions.
SGB, under the auspices of AGH, is set to launch its digital banking services to a global clientele in early 2024, following recent authorization from the Central Bank of Bahrain. The bank’s innovative services include 24/7 settlement, digital asset custody and connectivity, and asset management.
Lee’s extensive experience in the banking industry, notably his decade-long tenure at JP Morgan Chase & Co. as Vice Chairman of Asia Pacific and Senior Country Officer for Singapore, positions him well for this role.
He is recognized for his forward-thinking adoption of technologies like blockchain and robotics at JP Morgan. His career also includes leadership roles at DBS Vickers Securities, where he served as Chairman and CEO.
In his new position at SGB, Lee is expected to employ his in-depth knowledge of the Asia Pacific banking landscape and technological innovations to steer the bank’s executive leadership team, headed by former JP Morgan CEEMEA Vice Chairman and Regional Head, Mr. Ali Moosa.
Lee Han Shih, Co-Chairman of Whampoa Group, expressed confidence in Lee’s capabilities, emphasizing the Group’s commitment to high corporate governance standards and stakeholder interests.
“We are delighted to have someone of Edmund’s stature helm our boards,” said Lee Han Shih, highlighting the bank’s focus on delivering innovative services and solutions to its regional and global clients.
Edmund Lee’s appointment is a clear indicator of Whampoa Group’s ambition to expand its digital banking footprint in the Middle East, leveraging his global banking expertise to catalyze SGB’s strategic plans and execution in the burgeoning digital financial sector.
AsiaBusinessHeadlines