Citi Private Bank sets up Asia Family Office

Citi Private Bank Asia Pacific has two key new appointments to enhance its offering to clients in Asia Pacifc.

Richard Straus will lead Citi Private Bank’s newly-established Global Family Office and Institutional business in North Asia while Steven Lo has been appointed Global Market Manager for Hong Kong. They are based in Hong Kong and will report to Aamir Rahim, Asia Pacific Chief Executive Officer for Citi Private Bank.

“Citi Private Bank continues to expand and strengthen our franchise in Asia Pacific to meet the needs of our clients. With Richard and Steven’s extensive experience in private banking, they are well suited to lead their respective businesses,” said Mr.Rahim.

Mr. Straus will lead the newly-established Global Family Office and Institutional Business in North Asia, a key development and growth opportunity for the Bank as it continues to expand and strengthen its product offering in the region. A 24-year veteran of Citi, he has held a number of senior private banking roles in the U.S., Hong Kong, Japan and Singapore. He has an MBA from Washington University, St. Louis, and is a Chartered Financial Analyst.

Mr. Lo takes over responsibility for Hong Kong, one of Citi Private Bank’s key businesses both in the region and globally, after managing several other portfolios in the Bank. A veteran private banker, he has more than 22 years of wealth management experience covering capital markets, managed investments and investment finance. He joined Citi in 1991, developing and managing relationships of high net worth families for the private bank in Vancouver and New York. Since 2001, he has been based in Asia as GMM Thailand, Vietnam and offshore Japan. Mr. Lo has a Bachelor of Science degree from Loughborough University and an MBA from the University of Warwick.