Li will be based in Hong Kong and report to David Shick, head of private banking for Greater China, according to a statement from the bank.
His role involves growing the bank’s franchise in the Greater China market.
Li was most recently market head for Hong Kong at Standard Chartered Private Bank, where he had been employed since 2007. Prior to that, he held senior wealth management roles at Barclays Private Bank and Lloyds Bank, according to the statement.
“Greater China is one of the fastest-growing wealth creation markets. The demand for wealth management services is intensifying,” said Shick, in the statement.
China’s UHNW population is expected to grow 35% in the next five years and the number of millionaires 31%, according to the Knight Frank global wealth report 2019.
