HSBC has made two senior appointments for its China wealth business as the bank continues to grow its business on the mainland.
Effective April 1st, Max Xu has been named head of international wealth and premier banking, HSBC China and Samuel Chen has been named head of private bank, HSBC China.
Xu (pictured) will report to Mark Wang, CEO of HSBC China, and functionally to Kai Zhang head of international wealth and premier banking, Asia, the firm said in a statement.
Zhang said: “The appointments of Max and Samuel strengthen our leadership bench as we continue to expand our onshore wealth and private banking franchise in mainland China, reinforcing our commitment to sustainable growth and superior client experience across the Premier, Premier Elite and Private Bank continuum.”
Xu, who joined HSBC in 2025, was previously head of premier banking at international wealth and premier banking China.
Chen (pictured below) will be reporting to Xu, working closely with Lok Yim, regional head, HSBC Private Bank, Asia Pacific. He joined the HSBC Private Bank nine years ago and previously held senior client-facing roles.
Yim said: “HSBC’s Private Bank business in mainland China is a key pillar of our global wealth strategy. Over the past few years, we’ve delivered substantial growth, expanded our mainland China footprint to six major cities, and built an award-winning franchise.”
“We’re pleased to have Samuel lead this important business. His leadership and strategic focus, together with a strong understanding of our entrepreneurial clients position him well to bring the full strengths of HSBC to our clients.”
Zhang added: “Mainland Chinese households hold around $22trn in cash, including an estimated $6.5trn of savings that could shift into investments.”
“With our international network, full wealth offering and integrated financial solutions, HSBC is well placed to capture this opportunity.”
