Hong Kong digital bank ZA Bank has on Monday announced the appointment of Calvin Ng as its new Chief Executive Officer, effective from March 27.

ZA Bank said in a statement that Ng will lead the Bank for its continued growth and innovation in Hong Kong’s digital banking space.

He has served as an Executive Director of ZA Bank since September 2022.

ZA Bank also announced that Ronald Iu had stepped down as Chief Executive Officer and Executive Director.

“The Board would like to express its sincere gratitude to Ronald for his contribution and wishes him every success in his future endeavors,” the statement said.

As a founding member of ZA Bank, Ng deeply understands the bank’s business, culture and vision.

He has played a key role in several major milestones for the Bank, from applying for a digital banking license in Hong Kong and the official launch of ZA Bank to its emergence as a leading digital bank in the city, serving over 800,000 users.

Under his leadership, ZA Bank became Asia’s first1 licensed bank to offer cryptocurrency trading services to retail investors, successfully expanding innovative financial services into new areas and bringing more diverse choices to users.

As a key figure in managing the Bank’s retail business, he is responsible for formulating the overall business strategies, product roadmaps and growth plans, with a strong focus on enhancing user experience and driving the bank’s sustainable growth in a steady and paced manner.

“Ng’s proven track record, leadership, experience in fintech and strong stakeholder management made him an ideal successor,

“We are confident that he will further drive fintech innovation alongside robust risk management, lead ZA Bank in breaking new ground, and deliver a safer, more reliable, and more convenient one-stop digital banking experience for our users,” The Board of ZA Bank said.

ZA Bank, licensed by the Hong Kong Monetary Authority in 2019, is Hong Kong’s first and largest digital bank.

With more than 800,000 users as of June 30, 2024, it leads the city’s digital banking sector in customer base and deposits.

The bank offers a range of services including banking, investment, insurance, and business solutions.

It operates as a subsidiary of ZA Global, established in 2017, to explore global fintech and insurtech opportunities.

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