Barclays Wealth has appointed Francesco Grosoli as chief executive officer/director general of its Monaco Private Banking business.

Barclays Wealth has appointed Francesco Grosoli as chief executive officer/director general of its Monaco Private Banking business.

Mr Grosoli will join the business in May from his position as head of Private Banking at HSBC in Monaco, where he was accountable for teams servicing clients from Europe, Middle East, Africa and Latin America.

In his new role Francesco will lead the expansion of Barclays Wealth's Monaco-based operations and will join the International Private Banking management team reporting to Gerard Aquilina.

The appointment follows the decision of Barclays Wealth’s existing director general, Jean-Bernard Buisson, to retire from the bank after 36 years.

Mr Buisson will step down from his current role on the arrival of Mr Grosoli and after a controlled handover period, following which Mr Buisson will continue to be an ambassador for Barclays in Monaco.

Chief executive of Barclays Wealth, Thomas Kalaris, said: "Francesco is an excellent example of leading talent in our industry being excited by our recent achievements and ambitious forward plans. Through the clarity of our offer, we are continuing to attract the very best talent in each of the marketplaces where we are active."