The chief investment officer of Falcon, David Pinkerton, said that the bank, which currently has around US$12 billion in assets, is evaluating more such opportunities, adding that there was no time frame to do a deal.

"We have a process underway to evaluate opportunities but we are also cognizant of the fact that you need to integrate these acquisitions efficiently to succeed. There is no pressure on us to do a deal next year," Pinkerton said.

Pinkerton said that the bank’s focus was to grow in emerging markets where wealth is expanding at a faster pace than developed regions and competition is less intense.

Falcon is seeking to acquire wealth management boutiques that manage between US$500 million and US$4 billion in assets. Also, the firms that share similar customer bases are the preferred acquisition targets.

Pinkerton said that so far, the bank has had net inflows amounting to US$870 million, with the Middle East accounting for about US$245 million of the total.