Barclays Wealth and Investment Management has named Francesco Grosoli as new wealth management head for Europe, replacing Henry Fischel-Bock.

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In his new role, Grosoli will oversee the bank’s private banking business in Europe.

He will report to Akshaya Bhargava, chief executive, Barclays Wealth and Investment Management.

Grosoli, who joined Barclays in 2007, was most recently managing director and Monaco country manager as well as market head for both Switzerland and Monaco.

Before to joining Barclays, he worked as head of private banking for HSBC Private Bank Monaco.

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Additionally, the bank has hired Warren McRae as business chief operating officer for Europe. In addition, he will continue to serve his current role as chief operating officer at Barclays for Switzerland and Monaco.

Bhargava said: "With Grosoli’s leadership skills and longstanding experience in wealth management, he is the ideal person to lead the private banking business in Europe."