HONG KONG, October 14, 2020 - Airstar Bank is pleased to announce the appointment of Mr. Ronald Iu as the new Chief Executive, succeeding Dr. Frederic Lau. Airstar Bank is also pleased to appoint Dr. Frederic Lau as Advisor of the Bank and Dr. Frederic Lau will remain as a member of the Board of Directors (the "Board"), as well as the Vice Chairman of AMTD Group, with both appointments taking effect from October 10, 2020.  

Both shareholders Xiaomi Corporation and AMTD Group, together with the Board, express their gratitude and appreciation to Dr. Lau for his tremendous contributions and overall leadership in building Airstar Bank from its inception and leading the Bank to become one of the very first virtual banks to launch its services to the public in June this year, as a direct result of his instrumental contribution throughout the licence application process and the recruitment of the existing management team, steering the Bank to become commercially operational in approximately 13 months since the granting of the banking licence.

The Board welcomes Ronald to his new role. Ronald has more than 20 years' of experiences in the banking and finance industry, serving as senior management and CEO role for over 10 years with extensive experience ranging from risk management, sales and marketing to the development of new FinTech products, etc.

Since joining the Airstar Bank as Alternate Chief Executive in December 2019, Ronald has been leading the team to execute various important initiatives, including setting up its business development strategy, designing the blueprint for building product lines, and defining different commercial imperatives and action plans. These contributions, among others, resulted in a great success at the official launch. Airstar Bank disrupted traditional banking practices with financial technologies to enable remote account opening in just 5 minutes at the earliest, plus a milestone to launch the first-ever "No Document Personal Loan" in the virtual banking industry, both winning  customers' trusts through such innovative and efficient process experience.

With Ronald's profound knowledge and solid experience in the financial system and FinTech applications, the Board is looking forward to his stewardship to further develop Airstar Bank according to our mission in providing Stellar Banking Services to each and everyone to achieve financial inclusion, leading another new page in the virtual banking industry in launching more innovative services to define supreme customer experience. The Board wishes Ronald and Frederic all the best in their new roles, taking Airstar Bank to new highs and achieving more milestones.