HSBC has appointed Max Xu as Head of International Wealth and Premier Banking (IWPB), HSBC China, and Samuel Chen as Head of Private Bank, HSBC China, with both roles effective 1 April 2026, as the bank intensifies its push in mainland China’s expanding wealth market.
The appointments come as HSBC continues to position mainland China as a core pillar of its global wealth strategy, particularly across Asia and the Middle East. In 2025, the bank reported a 37% year-on-year increase in wealth invested assets in mainland China, supported by strong distribution momentum and growth in its private banking business.
Max Xu, currently Head of Premier Banking, IWPB China, will lead efforts to drive growth across the Premier, Premier Elite and Private Bank segments. His mandate includes strengthening cross-border connectivity and enhancing collaboration with corporate and institutional banking teams. He will report to Mark Wang, CEO of HSBC China, and functionally to Kai Zhang, Head of IWPB Asia.
Samuel Chen, who will report to Xu, is tasked with accelerating the private bank’s growth by deepening client relationships and expanding its integrated wealth offering across investments, lending, insurance and planning.
Ida Liu, CEO of Private Bank, said in a LinkedIn post: “We look forward to their leadership in advancing our franchise and delivering for our clients.”
HSBC estimates that mainland Chinese households hold approximately USD22 trillion in cash, including USD6.5 trillion in potential investable savings, underscoring the scale of the opportunity as competition intensifies among global wealth managers.
