Hornbill Unleashed

September 3, 2016

Swiss Falcon Private Bank replaces CEO with board member

Filed under: Politics — Hornbill Unleashed @ 9:01 PM

Switzerland’s Falcon Private Bank has replaced its chief executive, Eduardo Leemann, withboard member Walter Berchtold, three sources familiar with the matter said in Zurich on Thursday.

Leeman is still an adviser to Falcon, one of the people said.

Zurich-based Falcon, which is owned by Abu Dhabi’s International Petroleum Investment Company (IPIC), did not immediately respond to requests by phone and email for comment.

An IPIC spokesman contacted in Abu Dhabi declined to comment.

The departure comes amid Falcon’s links with scandal-hit Malaysian state fund 1Malaysia Development Bhd (1MDB). Falcon said in July it was cooperating with Singaporean investigators looking into the bank’s ties to 1MDB.

Leeman joined Falcon, formerly AIG Private Bank, as CEO in 1997 before becoming chairman of the bank’s board. He returned to Falcon’s executive board in September 2008.

Berchtold has been a member of Falcon’s board since March 2015 and previously worked as CEO of private banking at Credit Suisse, Switzerland’s second-biggest bank, from 2006 to 2011.


Reuters


Leave a Comment »

No comments yet.

RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Create a free website or blog at WordPress.com.

%d bloggers like this: