UPDATE 1-Grab-led Singapore digital bank's senior executive steps down

(Recasts, adds details from second paragraph onwards)

Nov 9 (Reuters) - GXS Bank, the venture between ride-hailing company and fintech firm Grab Holdings and Singapore Telecommunications, said its executive director and board member Reuben Lai would leave the bank at the end of this year.

GXS Bank, which launched Singapore's first digital bank for the retail market at the end of August, said in a statement on Wednesday that Lai, who was also heading its regional office, would however remain on the board of GXS Bank's digital bank in Malaysia.

Lai, one of the most senior executives at GXS Bank, had co-led Grab's foray into the region's burgeoning financial services sector in the last few years and moved to GXS earlier in 2022.

Grab reorganised its fintech unit, Grab Financial Group, earlier this year to focus on more lucrative areas and Reuters had

reported

in May on the exit of some senior executives. (Reporting by Anshuman Daga and Tejaswi Marthi in Bengaluru; Editing by Dhanya Ann Thoppil and Christian Schmollinger)