Two senior executives from a US investment bank have moved to a Chinese financial services firm to run the latter's new Asia unit in Hong Kong.

Thaddeus Beczak, previously the chairman of Cowen Asia, and Frank Au, formerly chief executive of the Asian unit, have joined China Renaissance Partners. The Chinese firm, with offices in Beijing and Shanghai, is seeking to expand beyond its home market and is applying for securities, trading, underwriting, corporate finance and research licenses in both Hong Kong and the US. 

Beczak will become chairman of China Renaissance Securities, a newly-formed subsidiary, while Au will take the role of president. The Hong Kong office is the company's first outside mainland China. More offices are said to be in the pipeline for New York and San Francisco.