HSBC has appointed former Citi Private Bank chief Ida Liu as CEO of HSBC Private Bank from January 2026, as it looks to strengthen its global private banking franchise and deepen relationships with ultra-high net worth clients.
HSBC has named Ida Liu, the former global head of Citi Private Bank, as chief executive of HSBC Private Bank, with her appointment set to take effect on 5 January 2026.
In announcing the move, the bank said Liu will be tasked with strengthening HSBC’s leadership among ultra-high net worth clients, enhancing cross-border connectivity and accelerating the global growth of its private banking franchise. She will report to Barry O’Byrne, chief executive of HSBC International Wealth and Premier Banking.
Liu will succeed Gabriel Castello, who has served as interim chief executive of the wealth business since last year and will transition into the newly created role of vice chair of HSBC Private Bank, reporting to Liu.
Commenting on the appointment, O’Byrne said Liu brings extensive expertise in strategic wealth advisory, operational transformation and business expansion, alongside a proven ability to deliver results, adding that her arrival underlines HSBC’s ambition to position its Private Bank as the preferred partner for some of the world’s most sophisticated entrepreneurs and families.
During her tenure at Citi Private Bank, Liu led a global operation and advised ultra-high net worth clients on investment, liquidity and legacy planning. Earlier in her career, she worked as an investment banker, advising Fortune 500 companies on mergers and acquisitions and capital markets strategies, and spent more than half of her professional life in Asia. Her previous roles include positions at BT Wolfensohn and Merrill Lynch.
Liu later moved into the fashion industry, becoming an executive at Vivienne Tam, where she ran a global luxury business and oversaw efforts to improve operational efficiency while driving international expansion.
HSBC highlighted Liu’s 25 years of international experience and her track record in building and leading global franchises serving highly sophisticated clients. In a post on LinkedIn, Liu said she was joining HSBC at what she described as a defining moment for wealth, noting that clients are increasingly global, entrepreneurial and multi-generational. She added that HSBC’s global platform, established client relationships and focus on innovation offer a unique opportunity to help shape the future of private banking.
The appointment comes as international diversification gathers pace among wealthy entrepreneurs, with HSBC citing research showing that 59% are diversifying their wealth across borders and nearly half are planning to expand their businesses into new markets.
