HSBC appoints new China wealth chiefs as mainland growth push gathers pace
HSBC named Max Xu to lead International Wealth and Premier Banking in China and Samuel Chen as China private bank head, both effective April 1. Wealth invested assets in mainland China rose 37% in 2025, but HSBC’s mainland pretax profit fell 66% last year. The bank is weighing cuts affecting up to 20,000 roles and named its first Chief AI Officer last week. HSBC’s market value briefly topped $300 billion in January.
