HSBC has named Irene Chen as the global head of Ultra High Net Worth (UHNW) Solutions under its Investments and Wealth Solutions (IWS) division for its Wealth and Personal Banking (WPB) business.

The appointment comes as the bank seeks to develop an investment platform for the UHNW segment, leveraging its global footprint and institutional group capabilities.

Chen, who will join HSBC on 1 August 2022, will be responsible for driving the bank’s global UHNW strategy, including its UHNW proposition, product coverage approach and client outcomes.

She will also work to develop alignment and connectivity across regions and businesses, and oversee the delivery of HSBC services to its UHNW and institutional family office clients.

Chen will be based in Hong Kong and report to IWS EMEA (ex UK) and Switzerland head Karl Faivre.

HSBC Investments and Wealth Solutions global head Lavanya Chari said: “We are committed to growing our UHNW business across geographies, which remains a key strategic focus for the Bank. Irene brings an extensive expertise in product and business development which will enable us to further enhance our UHNW proposition and ensure the delivery of best-in-class products, platforms and solutions. I am very excited to have her joining our team.”

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Chen joins HSBC from Citibank, where she was head of Cross-Asset Solutions for Asia, in charge of offering highly structured solutions to HNW and UHNW clients and family offices.

In this role, she also led the partnership with Global Markets, Investment Banking & Corporate Banking divisions to offer clients institutional solutions in structured financing across liquid and illiquid assets, direct private investment, equity cycle solution, capital markets and strategic risk solutions.

Prior to that, Chen oversaw the structured products and derivatives business at Barclays Wealth and Investment Management for Asia-Pacific, Middle East and Africa.

She has also worked at Credit Suisse and Commerzbank as the team lead for derivatives structuring and marketing.