WealthBriefingAsia understands that the position had been previously held ad interim for at least a year.

Valderrábano will be relocating from New York to Hong Kong to take on the new role, reporting to Barry O’Byrne, chief executive officer, IWPB.

Valderrábano is joining from Citibank, where he most recently served as chief operating officer for its global wealth business,. He has more than 20 years of international experience in retail banking and wealth management.

“We are pleased to welcome Valentín to the team at this exciting time for IWPB. We have a clear goal to become the world’s leading international wealth manager, particularly in Asia and the Middle East, and we are now accelerating the execution of our strategy with sharpened focus and significant investments,” O’Byrne said in a statement.

Late last December, HSBC said that it had appointed Ida Liu (pictured below) as its new private bank CEO. Previously. Liu had been global head of Citi Private Bank. She succeeded Gabriel Castello, who served in the role ad interim for the past year.

Ida Liu