TRANSFERWISE - a remittance fintech dubbed a unicorn for its billion-dollar valuation - has lost its top executive who leads international expansion in this region, The Business Times has learnt.

TransferWise's head of banking Lukas May has resigned. His role as head of banking has been to establish relationships with commercial banks and central banks as part of the fintech firm's expansion out of the UK, and into Asia.

Mr May, who relocated to Singapore in 2017 for the role, is understood to be moving back to London to work on UK-Asia trade negotiations with the UK government. He will hold the title of deputy director, Asia and Australasia negotiations, at the UK Department for International Trade, BT understands.