Barclays has been granted permission to launch private banking services to wealthy clients in South Africa, and has made a new appointment to run this effort.

Amol Prabhu becomes Africa market head for the private bank and will have regulatory accountability for the Africa businesses.

Based in Johannesburg, Mr Prabhu has held several roles for Barclays during the past 15 years, most recently leading the establishment of Barclays Investment and Corporate Banking services in Africa.

Barclays announced on 1 July that it has been granted a Financial Advisory and Intermediary Services (FAIS) licence by South Africa...