Singapore's Gulf Bank announced the appointment of former U.S. Federal Reserve Vice Chairman Randal Quarles as Vice Chairman of its newly established Global Advisory Board to support its international growth strategy. This Global Advisory Board is chaired by Li Ai, founder of the Whampoa Group, with members including Fan Min, co-founder of Ctrip; Zhang Louis, founding CEO of Boyu Capital; and Sheikh Mohammed Khalifa Al Khalifa, CEO of Beyon Digital. Supported by Bahrain’s sovereign wealth fund Mumtalakat and Singapore’s investment group Whampoa Group, Gulf Bank of Singapore is the first fully licensed digital bank in the Middle East and North Africa region, capable of digitally integrating global clients and serving cryptocurrency customers.

SINGAPORE, May 6 (Reuters) - Singapore Gulf Bank said on Tuesday that it had appointed former U.S. Federal Reserve vice chair Randal Quarles as vice chairman of its newly-formed global advisory board to support the digital lender's international growth strategy. Singapore Gulf Bank said in a statement that the global advisory board would be chaired by Whampoa Group's founder Amy Lee. Other board members include co-founder of China's largest online travel agency Ctrip Fan Min, founding CEO of Boyu Capital Louis Cheung and Beyon Digital's CEO Shaikh Mohamed Khalifa Al Khalifa. Matrixport's chairman Wu Jihan and Jiangsu General Chamber of Commerce's president Fan Yurong are also members, Singapore Gulf Bank added. Backed by Bahrain's sovereign wealth fund Mumtalakat and Singapore-based investment group Whampoa Group, Singapore Gulf Bank is the first fully licensed digital bank in the Middle East and North Africa or MENA region, with permission to integrate customers from across the world digitally and to serve crypto clients, according to the statement.

Singapore's DBS Bank Appoints Former Federal Reserve Vice Chairman Randal Quarles as Vice Chairman of Global Advisory Board