Standard Bank, the South African retail banking and financial services institution, is launching a private banking operation in London.

Nic Contimichalos has been appointed as head of the new operation, where he will be responsible for clients in Europe, the Middle East and Africa. Previously, he was a managing director of Dresdner Private Bank before it merged with Kleinwort Benson Private Bank last year. Contimichalos will report to Robert Leith, new global head of private banking. Leith will coordinate the activities of Standard Bank's three other regional private banking operations based in Miami, Hong Kong and Johannesburg.