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Racquel Oden's role spans two of HSBC's most strategically important businesses: she serves as U.S. head of international wealth and premier banking and U.S. head of global private banking.
Since joining HSBC in 2023, Oden has been instrumental in driving the bank's strategy to expand its wealth business in the U.S., which is a key growth market within the bank's global portfolio.
Achieving these goals at a tumultuous time for markets and geopolitics brings its own set of challenges, as HSBC's wealth and private banking serves 20 million clients worldwide.
"With a client base that is globally minded, my biggest challenge today is ensuring that we are providing the same world-class advice that our clients have come to expect in a world that is constantly changing and evolving," Oden said. "The news headlines have moved so rapidly this year, it's our responsibility as wealth advisors to anticipate what's around the corner and deliver tailored advice in a personal way — all at once."
Under Racquel Oden's leadership, HSBC's international wealth and premier banking units have shown resilience in terms of revenues, assets and client activity.
The wealth businesses grew revenue by 22% on a constant currency basis in the first half of this year, according to HSBC Interim Report 2025. The international wealth and premier banking business opened 13 wealth centers across key markets, including mainland China, Singapore, Malaysia, and the U.K.. And the HSBC wealth unit attracted $22 billion in net new invested assets, with half of that amount originating from Asia.
Last year, Oden's businesses were instrumental in driving HSBC's returns. In 2024, HSBC total revenue rose 8.7% to $61.3 billion, mostly attributable to its wealth and personal banking segment, which accounted for 45% of total revenue at $27.3 billion. The international wealth and premier banking unit also played a crucial role in this performance, contributing about $13.98 billion in revenue for HSBC during the same time period.
"We're enhancing our advisory capabilities with a team that has the cultural fluency to serve our internationally minded clients, which is critically important. We're also investing in technology and digital platforms to make the client experience as seamless as possible," Oden said.
Her path prior to HSBC has included senior roles across major Wall Street institutions, reflecting her willingness to embrace uncertainty and take on challenges.
"It's critical for young women in the banking industry to take calculated risks that can lead to growth, new experiences, and increased visibility," she noted. "At the same time, one should seek out mentors who can advise, provide guidance, support, and honest feedback. Mentors should also reinforce the idea that taking risks, even when uncertain, builds confidence and resilience."
Oden also sees engagement of female investors as a key component of the bank's future growth strategy.
By 2048, an estimated $124 trillion in U.S. wealth is set to transition to new owners, with a significant portion expected to go to women. According to Oden, HSBC is looking to tailor advice to women's investment priorities and support women entrepreneurs through HSBC Innovation Banking, which was created following HSBC UK's acquisition of Silicon Valley Bank UK.
"Historically, many financial firms have underserved this massive and growing client base, and there's an opportunity for our advisors to engage with women investors as they start to play a more predominant role in their family's finances and businesses," Oden said.
