Foresight News: Whampoa Group has appointed former JPMorgan executive Ali Moosa as the Executive Deputy Chairman of its digital bank, Singapore Gulf Bank, located in Bahrain. Ali Moosa had a 30-year tenure at JPMorgan, with his last position being the Regional Head and Deputy Chairman for Central and Eastern Europe, the Middle East, and Africa. Whampoa Group CEO Shawn Chan stated that more executive appointments will be announced in the coming months.
As previously reported by Foresight News, in May of this year, Whampoa Group planned to establish a digital bank in Bahrain by the end of the year, offering banking services as well as digital token trading, custody, and asset management services. A Bahrain government spokesperson said that the country's central bank had 'approved in principle' the establishment of the joint venture by Whampoa Group, adding that 'the approval is provisional and will only be granted full permission after meeting all regulatory requirements'.