Singapore-based multi-family office Whampoa Group has hired a former J.P. Morgan executive as the chairman of its digital banking arm in Bahrain.
Whampoa Group appoints Edmund Lee as chairman of its Bahrain-based digital bank, Singapore Gulf Bank (SGB), according to a statement. In the role, he will be responsible for guiding the SGB executive leadership team, led by former J.P. Morgan Central & Eastern Europe, Middle East and Africa vice chair and regional head Ali Moosa.
Lee was most recently working at J.P. Morgan as vice chairman of Asia Pacific and senior country officer for Singapore. Prior to that, he was chairman and CEO of DBS Vickers. Currently, he is also the founding chair of Asia Gulf Holdings (AGH), the holding company for Whampoa’s strategic investments in Asia, the Middle East and North Africa (MENA), including SGB.
Launching Soon
According to Whampoa, SGB recently received final approval from the Central Bank of Bahrain and is preparing to launch digital banking services to global customers in early 2024. SGB’s offering will include round-the-clock settlement, custody of and connectivity to digital assets.
Whampoa Group is a multi-family office headquartered in Singapore. Its founders include renowned figures from the city-state including Amy Lee, niece of the late Lee Kuan Yew, as well as Lee Han Shih, a member of the OCBC banking family.
