Falcon Private Bank is Not up for Sale Amid 1MDB Probe
Sovereign Wealth Fund International Petroleum Investment Co (IPIC) which owns Falcon Private Bank has said in a statement that the bank is not and was not for sale. This comes after a media report circulated that its new CEO is under pressure to find a buyer.
Falcon Private Bank is under scrutiny in Singapore after an inspection found breaches of anti money laundering regulations. The management of key client accounts were done from the bank’s head office in Switzerland and the inspection is still on going.
News Source: Daily Mail
About Falcon Private Bank
Falcon Private Bank is a Swiss private banking boutique with 50 years of expertise in wealth management. Founded in1965 as Ueberseebank, the bank was renamed AIG Private Bank in 1998. Following the change of ownership, the name Falcon Private Bank was launched in 2009 – owned by International Petroleum Investment Company (IPIC), one of the world’s leading sovereign wealth funds from Abu Dhabi. Falcon Private Bank provides services to private clients and wealthy families from its headquarters in Zurich, and its branches and representative offices in London, Singapore, Abu Dhabi, and Dubai.
- Origin : Zurich, Switzerland
- Assets : CHF 3.47 billion (2014)
- Revenue : –
- Employees : approx 300 (2014)
Official Website: www.falconpb.com
News & Media: Press Release
Updated on 8th August 2016