Michael Chan is a banking and technology executive who serves as the Chief Executive Officer of Zand Bank, an AI-driven digital bank in the United Arab Emirates (UAE). He was appointed to the role in November 2022 and is known for leading Zand's strategy of integrating digital assets and decentralized finance (DeFi) with traditional banking services. ^[1]​

Education

Chan completed a Bachelor of Science in Computing and Information Systems at Monash University. He later pursued a Master of Science in Finance from the City University of Hong Kong, where he specialized in Financial Engineering. His postgraduate studies focused on quantitative analysis, derivative modeling, and financial risk management. From 2007 to 2008, Chan attended the Kellogg-HKUST Executive MBA Program, a joint degree offered by the Kellogg School of Management at Northwestern University and the HKUST Business School, earning his Executive MBA upon completion of the program. ^[3]​

Career

Chan began his career in 2000 at Credit Lyonnais (LCL) in Hong Kong, where he was Deputy Chief Information Officer for Asia Pacific Global Markets, focusing on regional technology operations for capital markets. In 2004, he joined CALYON Corporate & Investment Bank as Chief Information Officer for Asia Pacific Global Markets and Hong Kong. In this role, he led global IT development for trading, e-trading, and real-time risk analytics platforms while supporting market expansion across Asia, Europe, and the Americas.

In 2008, Chan transitioned to Crédit Agricole CIB, beginning a decade-long tenure with the institution. He first served as Chief Operating Officer for Taiwan until 2010, where he was responsible for country-level management functions, including technology, finance, and operations. From 2010 to 2015, he became Chief Operating Officer for Singapore, Malaysia, and Indonesia, leading regional transformation initiatives, deleveraging programs, and key strategic projects in Southeast Asia. Between 2015 and 2018, Chan was the Managing Director for Management and Corporate Development in the Asia Pacific region, where he concentrated on corporate strategy, restructuring, and mergers and acquisitions for select regional subsidiaries.

Chan joined First Abu Dhabi Bank (FAB) in 2018, serving as the Regional Chief Operating Officer for the Asia Pacific region from his base in Singapore. Until 2022, he led FAB's regional expansion, including market entry and post-merger integration across several Asian countries. He also oversaw the bank's fintech initiatives related to automation, cloud infrastructure, and data analytics. In November 2022, Chan was appointed Chief Executive Officer of Zand Bank in the UAE. In this capacity, he leads the organization's strategic direction and operations, with a stated focus on digital finance and emerging financial technologies. ^[2]

Interviews

Digital Banking

In a November 2025 interview on The Next podcast, Chan discussed Zand Bank’s approach to transforming traditional banking through fintech and AI integration. He highlighted the bank’s AI-driven capabilities, including rapid onboarding and risk profiling, and described Zand Bank’s evolution from Dubai Bank to one of the UAE’s few AI-focused fintech banks. Chan outlined initiatives to extend digital banking services into smart city projects and into digital asset management, noting the increasing adoption of digital assets among retail, corporate, and institutional clients. He also addressed the regulatory environment in the UAE and Zand Bank’s collaboration with authorities to support innovation in digital and decentralized finance. Chan discussed future plans to expand financial product offerings, including global markets trading and wealth management, and emphasized a cultural shift at Zand Bank toward blending traditional banking with technology-driven approaches. The conversation concluded with insights on the potential impact of central bank digital currencies and stablecoins on international trade, remittances, and transaction efficiency. ^[4]

Building Trust

In an August 2025 interview on blockCAST, Chan discussed Zand Bank’s role in the UAE’s digital asset ecosystem, including its launch of a stablecoin and its initiatives to bridge traditional and decentralized finance. He highlighted the potential for real estate tokenization in Dubai, noting the influence of international buyers and the opportunities for stablecoins in cross-border payments and in mitigating currency depreciation. Chan outlined Zand Bank’s services, including corporate banking, wealth management, and digital asset custody, and described the UAE’s emerging position as a global crypto hub supported by progressive regulation. He also shared his personal journey to becoming CEO, discussed cybersecurity measures with institutional-grade custodians, and highlighted the bank’s ongoing participation in industry events and product launches. ^[7]

TradFi and Digital Assets

In July 2025, Chan appeared on CNBC Arabia’s Crypto Weekly to discuss the evolving intersection of traditional banking and digital assets. He addressed the potential for stablecoins to expand global payments, supply chain financing, and remittances, noting the impact of regulatory changes such as the US Genius Act, which classifies stablecoins as cash equivalents for banks. Chan outlined Zand Bank’s approach to bridging traditional finance with decentralized finance, incorporating AI for transaction monitoring and fraud prevention, and supporting tokenization of assets, including gold and debt markets. He also highlighted the UAE’s ambition to become a leading crypto hub and discussed broader trends in institutional adoption, infrastructure development, and the rapid growth of stablecoins since the COVID-19 pandemic. ^[6]