“This is a first for the principality,” says Francesco Grosoli.

We’re sitting in a light-infused boardroom in Barclays Monaco as Mr Grosoli tells me about his recent promotion over lunch. It’s the first time that a Monaco-bred-and-based professional has risen through the ranks of a global company to such a high level.

“Usually it’s the opposite,” he continues. “Top roles are recruited from abroad.”

Barclays is used to breaking the mould. Dating back to…

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