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HSBC has appointed Max Xu as head of International Wealth and Premier Banking ( IWPB ) and Samuel Chen as head of Private Bank, HSBC China, both effective from April 1st.
Mainland China, the world’s second-largest wealth market, is central to HSBC’s strategic priority to become the leading international wealth manager, particularly in Asia and the Middle East, the bank says. In 2025, the group’s wealth business in mainland China continued to deliver strong results, with wealth-invested assets up 37% from the previous year, driven by robust wealth distribution and growth in private bank.
“Mainland Chinese households hold around US$22 trillion in cash, including an estimated US$6.5 trillion of savings that could shift into investments,” says Kai Zhang, head of IWPB, Asia. “With our international network, full wealth offering and integrated financial solutions, HSBC is well placed to capture this opportunity.”
Xu is currently head of Premier Banking, IWPB China. He joined HSBC in 2025 and brings over 20 years of experience across institutional and consumer banking at leading international financial institutions.
In his new role, Xu will lead IWPB China to drive high-quality growth across Premier, Premier Elite and Private Bank, deepen connectivity across key corridors, and strengthen collaboration with Corporate and Institutional Banking. He will report to Mark Wang, chief executive officer of HSBC China, and functionally to Kai Zhang.
Chen will report to Xu and work closely with Lok Yim, regional head of HSBC Private Bank, Asia-Pacific. He will focus on accelerating HSBC’s private banking business in mainland China, deepening client relationships through a holistic wealth management offering across investments, lending, insurance and wealth planning.
Chen has close to 20 years of banking experience, including over nine years with HSBC Private Bank in senior client-facing roles. Since the expansion of Private Bank business in mainland China in 2022, he has helped build the investment counselling team.
He later led the wealth business under HSBC Qianhai Securities, helping secure a margin finance licence and launching wealth lending offerings for high-net-worth clients in mainland China.
