Citi Private Bank adds family office, names market heads

The firm appoints Richard Straus to run its family office for North Asia as part of a global drive, and names Steven Lo as Hong Kong head and hires John Wang from Goldman to run Taiwan.
Richard Straus: New family venture
Richard Straus: New family venture

Citi Private Bank has moved to establish a global family office and institutional business for North Asia, while it has also named new market heads for Hong Kong and Taiwan.

The firm has appointed Richard Straus to lead the family office business out of Hong Kong. The bank started this venture in the US about six months ago, and it remains a work in progress in the region.

A spokesman for the bank confirmed that Citi Private Bank was in the process of establishing a similar operation to cover Southeast Asia, probably based in Singapore. A hiring process is understood to be underway.

Only this week Citi Private Bank named James Holder...

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