(Dec 22): HSBC Holdings Plc has hired former Citigroup Inc executive Ida Liu to run its global private banking business, according to people familiar with the matter. Liu replaces Gabriel Castello, who was appointed interim chief executive officer of the wealth business late last year, when Annabel Spring stepped down as part of a management shake-up under group chief executive officer Georges Elhedery. Castello will assume the role of vice-chairman of HSBC’s private bank, and will oversee the bank’s most valuable clients. The move comes as HSBC’s Swiss private bank is in the process of ending relationships with more than 1,000 wealthy Middle Eastern clients, including many with assets exceeding US$100 million (RM407.9 million). Jane Fraser, the bank’s chief executive, has stood by Sieg, who has since been handed greater responsibilities.

Source: The Edge Markets December 22, 2025 11:44 UTC