Falcon Private Bank is open to acquiring rival banks with assets of up to 2bn francs ($2.07bn).
Erich Pfister, who took over as the global head of private banking at Falcon on 1 January, expects mass consolidation in the private banking industry as tougher regulations are enforced.
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The private bank, which is headquartered in Zurich but is Abu-Dhabi owned, has revealed that it is planning to absorb lenders strategically in its core regions – the Gulf, Eastern Europe, Africa and South East Asia.
Pfister said: "It needs to serve our focus, meaning we wouldn’t compromise on our strategy and any target would need to fit our core markets. If that’s the case, we’re interested."
Growth prospects
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By GlobalDataPfister told PBI in an interview in February, that Falcon Private Bank is in "growth mode" and his aim is to enable double digit growth for the business in its core markets.
Pfister also told PBI that Eastern Europe, and mainly Russian clients, will be a focus for the bank.
In June 2013, the bank acquired the Central and Eastern Europe private banking business of Hyposwiss Private Bank Zurich, a wholly owned subsidiary of St. Galler Kantonalbank.
In March 2013, Falcon Private Bank acquired Clariden Leu (Europe), now Falcon Private Wealth, operating as an international private asset management firm and servicing global clients focusing on the Middle East and Africa, Eastern Europe, Asia and other emerging markets.
