HSBC Private Bank has hired a 22-year Citi executive who was most recently the chief of staff for the latter’s private banking unit.
HSBC Private Bank has appointed David De La Cruz as head of commercial execution, according to an announcement. He joins from Citi where he worked for 22 years, including nearly 20 years with the private bank where he was most recently its chief of staff.
This marks a reunion of sorts as De La Cruz had previously worked with Ida Liu, who was the former global head of Citi Private Bank before becoming HSBC Private Bank CEO in January.
Meanwhile, current head of commercial execution Laura Peterzan will take on an expanded role leading the British private bank’s women’s wealth strategy. HSBC Private Bank views female wealth as a strategic growth opportunity and in a report released in March, it estimated that the market would grow to USD113 trillion in investable assets in the next five years.
