Mr Wilkinson has extensive offshore financial services experience, most recently with Royal Bank of Scotland International as head of sales for the investment.

"The emerging markets in Africa, where the bank has considerable expertise and knowledge, is a key target market for us,” Mr Wilkinson said.

"We also have many contacts and clients in the Middle and Far East which we will be looking to develop further, along of course with the continuing importance of the European markets to our business,” he said.

The Standard Bank Offshore Group has offices in Jersey, Isle of Man and Mauritius and provides a range of services for private and corporate clients including banking, wealth management, trust and company administration, asset management, investment services and fund administration. As at the end of June last year, it had total assets of about$178 billion.