His appointment “reflects the aim to be the leading wealth management service provider in and to Africa”, Standard Bank said in a statement yesterday. Parry will be based in Jersey.

Parry worked for Standard Bank between 1993 and 2011. For the past few years he has been working in the hedge funds industry for mCapital Investment Management and as managing director at Chenavari Investment Managers (HK).

In his role, Parry will report to Deon de Klerk, head of international private clients, who said Parry’s new position is an important step for the firm.

“We have made significant investments in our division over this past year, with improved customer relationship management software and the development of clear strategic targets. Martin is the perfect choice to help lead the team forward and ensure we remain on track with providing a bespoke, holistic wealth management service for all our clients,” de Klerk said.

Standard Bank Group says it is the largest African bank by assets and earnings with a history dating back 151 years. The group has more than 1,200 branches on the African continent and representation in global financial centres. Standard Bank Group had total assets of R694 billion (about $162 billion) at 31 December 2013. ICBC has a 20.1 per cent shareholding. The Chinese bank announced its agreement to buy the stake last January, seen as part of a trend of Chinese firms deepening their global banking reach.