New-DistributionGroup -Name "Executives" -ManagedBy Albert
Set-DistributionGroup -Identity "Executives" -HiddenFromAddressListsEnabled $true

Add-DistributionGroupMember -Identity "Executives" -Member "Cheng,Angela"
Add-DistributionGroupMember -Identity "Executives" -Member "Merl,Emily"

New-DistributionGroup -Name SecretExecutives -Members "Executives"

Users can not see the members of "Executives" distribution group.

Using a Dynamic Distribution Group is the better solution.