The appointment follows the departure of Gerald Mathieu, former CEO of its Monaco operations and head of Private Bank Europe and Middle East, as part of a shake-up.

UK-listed Barclays yesterday confirmed that Olivier Franceschelli (main picture) will be the new chief executive officer of Barclays Private Bank Monaco.

The announcement was made on the same day that Barclays announced the new head of its private bank in India. 

Franceschelli, who has been with Barclays since May 2020, has served as interim CEO since September 2025, helping to bolster the local client proposition and deepening client relationships across the Monaco business. As CEO, Private Bank Monaco, Franceschelli will be strengthening client relationships, developing the local franchise and supporting the long-term growth of the business in the market, the bank said in a statement.

The appointment follows the departure of Gerald Mathieu, former CEO of its Monaco operations and head of Private Bank Europe and Middle East, last year. This was part of Barclays Private Bank International restructuring which has led to eliminating several leadership roles. Mathieu’s position as head of Private Bank Europe was removed in the shake-up; consequently, Mathieu decided to leave Barclays, a spokesman said.  

“I am delighted to confirm Olivier as CEO, Private Bank Monaco. Since stepping into the role on an interim basis, he has demonstrated strong leadership and a clear commitment to our clients in one of our most established markets,” Annabelle Bryde, head of Barclays Private Bank International, said.

“With his strong grasp of our business and clear focus on clients, Olivier is well positioned to lead the Monaco franchise and continue strengthening our presence in the principality.”

Barclays, which was established in Monaco in 1922, provides private banking services to clients in the principality, including a range of investment, banking and lending solutions.

The firm has been making a number of senior appointments, most recently with Adrish Ghosh who was appointed this week as head of Barclays Private Bank for India. Barclays Bank (Suisse) has also appointed John Shipman as its new chief executive officer, replacing Rahim Daya, who has been made global head of sales management for Barclays Private Bank and Wealth Management (PBWM).

(See recent articles we have written about developments in the European principality – here, here and here.)