HSBC Appoints Former Citi Executive Ida Liu to Lead Private Bank

HSBC appointed former Citi Private Bank global head Ida Liu as CEO of HSBC Private Bank, effective Jan. 5, 2026.

Liu will focus on deepening HSBC’s leadership with ultra-high net worth (UHNW) clients, strengthening cross-border connectivity and accelerating the growth of the Private Bank globally, the bank said in a Monday (Dec. 22) press release.

She will report to Barry O’Byrne, CEO of HSBC International Wealth and Premier Banking, according to the release.

Liu will replace Gabriel Castello, who was appointed interim CEO of the wealth business last year and will now assume a new role of vice chair of HSBC Private Bank, reporting to Liu, Bloomberg reported Monday.

O’Byrne said in the press release that Liu “brings deep expertise in strategic wealth advisory, operational transformation and business growth, and a consistent track record of delivering results. Her appointment reflects our ambition to further strengthen the Private Bank as the partner of choice for the world’s most sophisticated entrepreneurs and families.”

As global head of Citi Private Bank, Liu led a global business and advised UHNW clients on their investment, liquidity and legacy needs, per the release. Before that, Liu was an investment banker, advising Fortune 500 companies on mergers and acquisitions and capital markets strategies and spending more than half her career in Asia.

Liu was a mergers and acquisitions investment banker at BT Wolfensohn and an investment banker at Merrill Lynch, according to her LinkedIn profile.

She then became a fashion executive with Vivienne Tam, per the profile. There, Liu led “a global luxury fashion business, where she drove operational efficiency and international expansion,” the profile said.

In its press release, HSBC highlighted Liu’s 25 years of global experience and track record of building and leading global franchises serving sophisticated clients.

Liu said in a Monday post on LinkedIn that she is joining HSBC at “a defining moment for wealth.”

“Clients today are increasingly global, entrepreneurial and multi-generational, creating a powerful opportunity to elevate how private banking serves families and founders worldwide,” Liu said. “HSBC’s unmatched global platform, long-standing client relationships and commitment to innovation provide a rare foundation to shape the future of private banking.”

HSBC said in a September press release that 59% of entrepreneurs are diversifying their wealth internationally and 49% plan to expand their business into new markets.