Ex-Citi Singapore Banker To Join Grab-Singtel

Citibank Singapore’s head of retail banking Charles Wong is set to join the Grab-Singtel entity that is bidding for a digital full bank in Singapore.

With strong credentials for bringing about a strong turnaround of Citi Singapore’s business, Charles Wong is likely to play a key role in the digital full bank if the Grab-Singtel consortium secures the license, according to a report.

Wong had resigned from the U.S. bank in February after more than 20 years at Citibank, where he spent nearly five years in his last role as head of retail banking at Citibank Singapore. Under his leadership, the unit delivered consistent double-digit growth.

Grab Holdings and Singtel have jointly applied for a digital full bank license, with Grab holding a 60 percent stake in the proposed consortium, and Singtel holding the rest.

Both partners see financial services as a natural extension of their core businesses.