SINGAPORE - Payment network Nets announced on Tuesday (Sept 1) that Mr Domenic Fuda, managing director and deputy group head, consumer banking & wealth management at DBS Bank, has been appointed chairman with immediate effect.

Mr Fuda succeeds Ms Susan Hwee, managing director and head of group technology & operations at United Overseas Bank (UOB).

He will preside as Nets chairman for a three-year term.

A consumer banking veteran, Mr Fuda has over 25 years' experience in consumer banking and wealth management across a wide range of functions from front line sales and branch management to senior roles in business, credit risk management and finance.

Prior to joining DBS, he was chief operating officer for South East Asia Pacific, Australia & New Zealand at Citigroup.

Said Nets CEO, Mr Jeffrey Goh: "Domenic's expertise and experience in consumer banking will be of immense value to Nets in our next phase of growth in positioning Nets as an innovation-driven company providing end-to-end solutions to merchants, partners and consumers."