Falcon Private Bank changes CEO

Falcon Private Bank, a Swiss private banking boutique, has appointed Martin Keller as its chief executive officer, taking over from Walter Berchtold, effective on Wedsneday.

The bank's chairman Christian Wenger has also announced that he will step down. His successor will be appointed in due course.

The decision by Berchtold to step down as the CEO follows the completion of the first stage of the turnaround ahead of the launch of the new market positioning of Falcon Private Bank, scheduled for the fourth quarter of 2017. Berchtold will remain with the bank during a short transition period.

Wenger will ensure a smooth handover to the new chairman until later in the fourth quarter, said the statement.

Chairman Christian Wenger is also stepping down and Falcon, owned by Middle Eastern investment firm Aabar Investments, said it would announce his successor "in due course".
"Walter Berchtold and Christian Wenger have been vital in repositioning the bank," Keller said in a statement.
"Now we can build on their work and seize very attractive opportunities, such as leveraging digital technologies for wealth management and providing bespoke solutions for our clients."

Falcon Private Bank has 50 years of expertise in wealth management and provides first-class financial services to private clients and wealthy families from its headquarters in Zurich and locations in Abu Dhabi, Dubai, London and Luxembourg.