The head of Barclays' European arm is resigning after 12 years with the British bank, finews.com has learned.
The head of Barclays' wealth activities in Europe, the Middle East, and Africa, Francesco Grosoli, is stepping down after 12 years with the bank. A well-known name in European banking circles, Grosoli is acknowledged to «have been an important part of the growth of the private bank in Monaco and EMEA,» according to a source at the bank.
A spokesman for Barclays confirmed the exit of the Italian-born wealth manager. Grosoli will be replaced temporarily by Jean-Christophe Gerard, investments head for Barclays' private bank. A 25-year veteran of HSBC, Gerard joined Barclays just 17 months ago.
Unchanged Ambition
For the London-based bank, the EMEA business pans Monaco, Switzerland and Dubai. Under CEO Jes Staley, Barclays has set the focus for wealth management heavily on Europe, the Middle East, and Africa. In Switzerland, new head Gerard Mathieu told finews.com last year that he is hiring.
Karen Frank, CEO of Barclays' overall private bank, reiterated that its focus on its «significant ambitions for 2019 and beyond remains unchanged» despite the exit of Grosoli.
