Falcon Private Bank has hired Arthur Vayloyan from rival Credit Suisse as its new global head of products & services.

Vayloyan, who has almost 25 years of banking experience, has also been nominated to the bank’s Executive Board. He will report to Falcon Private Bank CEO Walter Berchtold.

Berchtold said: "The appointment of Arthur Vayloyan, a very senior private banking professional and expert in the field of investment products and innovation, complements our Executive Board perfectly. He will be responsible for redesigning our products and services strategy, enhancing our digital capabilities and supporting the Bank on its path of transformation to future growth."

At Credit Suisse, he held various positions, including global head of investment services and products, head private banking Switzerland and global head external asset management.

On his appointment, Vayloyan said: "I am convinced that the Bank holds a remarkable potential for future innovation and growth and I am looking forward to be part of this exciting transformational endeavour."