Falcon Private Bank has announced plans to
open a new representative office in Abu Dhabi in April this year as
a part of its strategy to extend its Middle East reach.
The Swiss bank, part of the Abu Dhabi fund
Aabar Investments is targeting growth in the high net worth and
ultra high net worth segment in the region.
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The private banking business specialises in
wealth management for private clients, families and institutional
investors.
Potential in emerging
markets
Falcon, which received the Private Banker
International award for ‘Most Exciting New Wealth Management Model’
in November 2010, had outlined ambitions to almost double under
management to $20bn in two to three years by tapping growing wealth
in emerging markets.
The bank had AuM of about $12bn as of 31
January 2011, of which $400m in assets are from the Middle
East.
