We report a study of magnetic responses of neutral and charged excitons in quantum wells, which are very sensitive to the strong spin hybridization of holes. This effect can be used to engineer the spin character of excitonic complexes in two-dimensional systems tuned by the magnetic field strength. Conditions for spin flip for each kind of excitonic complex is detailed and the nature of the effect discussed. Differences in the effective Zeeman splitting between neutral and charged excitons are theoretically predicted and unambiguously confirmed experimentally. Circularly polarized resolved photoluminescence has been used to study these effects under applied magnetic fields. The intertwining of spin dynamics of excitons and trions is discussed.