Straus joins the private bank from Citigroup Private Bank, where he was the head of family offices and institutions for Asia-Pacific and covered key client relationships across the region.
Straus took charge of his role on 27 April and is based in Hong Kong. He will be responsible for increasing the bank’s Taiwan client base. He reports to Wilson So, head of Greater China at the bank.
During his 28 years with Citigroup, he worked in various senior roles including chief financial officer, chief administrative officer and chief operating officer in Japan, New York, Singapore and Hong Kong.
“Taiwan is an important growth market in North Asia,” said Kaven Leung, chief executive North Asia.
“The extensive wealth management knowledge, expertise and experience that Richard [Straus] brings to the firm will further strengthen our team as we continue to serve our Taiwan clients with best-in-class products and services,” said Leung, who is also a deputy region head for Asia-Pacific.
Last week, the bank appointed Parminder Soin as India market head to expand its business from the non-resident Indian clients.