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Grab-Singtel Group to Hire 200 People for Singapore Digital Bank

  • The 60%-40% venture aims to launch digital bank in early 2022
  • The venture, Sea are only successful bidders for full license

A Grab Holdings Inc.-Singapore Telecommunications Ltd. venture, one of two successful bidders for a digital full bank license in the city state, will hire 200 people before the virtual lender’s launch in early 2022.

The new entity seeks to recruit veteran bankers, and will have positions available in technology and financial technology, Charles Wong, who will lead the bank as chief executive officer, said in a virtual briefing Friday night. The lender has recruited 10% to 15% of its planned workforce so far, he said.