Key facts
- Ida Liu has been appointed CEO of HSBC Private Bank.
- Liu previously led Citi's private bank for four years.
- Her tenure at Citi ended in January following a restructuring.
- HSBC aims to deepen its leadership with ultra-high net worth clients and grow globally.
- HSBC Private Bank has seen an 8% income growth year-over-year as of Q3 2025.
Ida Liu, who previously led Citi's private bank for four years, has been appointed chief executive of HSBC Private Bank, effective January 5. Liu's departure from Citi followed a restructuring where her position was eliminated, reportedly due to tensions with Citi's head of wealth, Andy Sieg.
Liu brings over two decades of experience in wealth management and strategic advisory, including her 18 years at Citi. At HSBC, she is expected to focus on deepening the bank's relationships with ultra-high net worth clients and driving global growth for the private bank. She will report to Barry O’Byrne, HSBC's international wealth and premier banking CEO.
HSBC has seen significant growth in its private banking division, with income increasing 8% year-over-year as of the third quarter of 2025. The bank also reported a 23% rise in private bank revenue in its June interim report, attributed to increased customer activity and growth in invested assets. Gabriel Castello, who served as interim chief of the private bank, will transition to the role of vice chair upon Liu's arrival.