Singapore, November 14, 2019 – Network for Electronic Transfers (NETS) announced today that Group Chief Executive Officer Jeffrey Goh will be stepping down from his position and all other appointments within the NETS Group of companies, effective November 22, 2019. Mr Goh will be pursuing other opportunities outside the company.

NETS’ Board of Directors has named Ricky Lim, Managing Director of NETS subsidiary, NETS Solutions Pte Ltd, as Interim Group Chief Executive Officer. NETS has begun an executive search for a successor from both the internal NETS organisation as well as the external sector.  

On behalf of the Board of Directors, Chairman Ching Wei Hong said, “We would like to thank Jeffrey for his dedicated service and leadership in strengthening the business, and wish him every success in his next venture.”

Mr Lim brings over 20 years’ experience in technology and corporate banking, from a range of senior roles at industry leaders including OCBC and Citibank. “Ricky’s extensive banking and payments experience will be invaluable during this transition period as we look to grow NETS’ business in the coming years to turn bold ideas into meaningful innovation in the payment space,” added NETS Chairman, Mr Ching.

 “It has been a tremendous privilege to serve as CEO of NETS, and I want to thank the entire NETS team for the support they have given me. I am incredibly proud of the industry leadership we have created and what we have achieved together with our partners. I am equally confident about NETS’ direction in its next chapter of transformation and growth,” said Mr Goh.

During his 8-year tenure, Mr Goh contributed to establishing a market leader position by extending NETS’ coverage of the merchant base in Singapore to 120,000 merchant acceptance points. He was also instrumental in the successful acquisition of Banking Computer Services (BCS) & NETS Solutions (formerly known as BCS Information Systems) and the integration into NETS.