Lloyds TSB Private Banking has appointed Jorge Kalledey as head of its high net worth Latin America business - a newly-created role in which he will shape and drive the bank's strategy in what it believes is an important market.

Based in Miami, FL, Kalledey will retain responsibility for teams across Geneva, Miami and Montevideo, reporting to HNW director Martin Fricker.

According to a statement, Kalledey has over 26 years of experience in wealth management and international private banking, with particular expertise in growing in US and Latin American markets.

Russell Galley, managing director at Lloyds TSB Private Banking, said Latin America represents an important market for the firm, which he added has a long-standing history in the region. 

Firms are increasingly hiring in Miami to build their client business in Latin America. In April, RBC Wealth Management appointed Rodrigo Buller Souto as director of its international solutions team, based in Miami. He will head the team’s expansion into Florida and select LatAm markets. (To view an article on this click here.)

Lloyds TSB Private Banking is headquartered in London for UK-based clients and Geneva for clients with international needs. The firm has £186.3 billion (about $291.2 billion) in assets under management, as at 31 March.