The lender prides itself as the only UK private bank in Monaco

Barclays has appointed Jean-Christophe Gerard as head of its private bank for Europe, Middle East and Africa, adding to his existing role has global head of investment for the private bank and overseas services businesses.

Francesco Grosoli has decided to leave the UK-listed banking group, this publication can report. He had been head of the EMEA private bank, reporting to Karen Frank, CEO of the private bank and overseas services.

The changes affect Barclays' operations in Monaco, an important location for its private banking business. As a result of Grosoli's departure, Gerard has asked Andrew Mott, Arnaud Caussin and Thibaut Lambert to be co-heads of private banking in Monaco on an interim basis.

The firm prides itself in being the only UK private bank in Monaco, having originally set up shop there in 1922.

Gerard hailed his bank's offerings from Monaco: "Our advisors in Monaco speak over 15 languages and are able to serve clients of all nationalities. We have a local team of more than 20 in-house investment specialists and our clients can choose how they want to invest with us. Barclays Private Bank delivers a truly holistic and bespoke wealth management service for high net worth, UHNW and family office clients in Monaco, internationally and in the UK, tailored to each of our clients’ unique circumstances, objectives and attitude to risk."