Strakosch became a naturalized British citizen in 1907. He served as a financial adviser to the South African government, and was the author of the 1920 South African Currency and Banking Act.
He was a member of the Royal Commission on Indian Currency and Finance during 1925 and 1926. He later served on the Council of India between 1930 and 1937, served as a delegate for India at the Imperial Economic Conference in 1932, and acted as adviser to the Secretary of State for India between 1937 and 1942.
He was chairman of The Economist between 1929 and 1943.