FBN Bank (UK), owned by First Bank of Nigeria, has recently set up a new private banking division under the leadership of former Coutts and HSBC executive Nigel Hawkins, this publication can reveal.

The West African bank received a licence to offer investment services last year, having originally been set up in the UK in 2002 after receiving regulatory clearance from the Financial Services Authority, the UK regulator.

“We are primarily focusing on a West African client base, either [those] resident and domiciled in West Africa or resident and non-domiciled in the UK, Hawkins told WealthBriefing yesterday.

The FBN (UK) private banking operation will cover four broad service lines: banking, investments, wealth protection (fiduciary and trust services) and property, he said.

Hawkins is an experienced international private banker, having previously held senior positions in Canada, rhe Middle East and the Channel Islands.

“Established and new entrants are all revisiting their HNW strategy in this “frontier market” and with our parents heritage, stability and reputation behind us we are well placed and excited about the opportunity in front of us,” he said.

Hawkins has already internally appointed Muna Duale, formerly of HBOS, as a private banker to develop high net worth relationships in its London office.