The firm has also elected a new chairman and appointed three new Swiss members to its board.

A private bank that was last year kicked out of Singapore amid probes into a scandal-hit investment fund said it has “rigorously” de-risked its client book and completed major restructures to improve compliance. 

Falcon Group “has taken decisive steps to build a solid and sustainable basis for its future growth,” the bank said in a statement. 

The firm has also elected a new chairman and appointed three new Swiss members to its board. 

Falcon described 2016 as a “challenging year”, for which it posted a loss of SFr128 million ($129 million) after it was forced to close in Singapore last October because of serious failures in anti-money laundering controls.

An investigation carried out by the city-state's financial watchdog, the Monetary Authority of Singapore, found that the bank processed suspicious transactions tied to 1Malaysia Development Berhad, or 1MDB, Malaysia's state-owned investment fund.

Singaporean authorities arrested Falcon's then-Singapore branch manager Jens Sturzenegger in October and later charged him with 16 counts, which included failing to report $1.27 billion of inflows into two suspicious bank accounts.

1MDB is currently the subject of money laundering probes in at least six countries including the US, Singapore, Switzerland and, most recently, Australia. Authorities allege that Malaysian officials and their associates have siphoned off billions of dollars from the fund, using banks such as Falcon to cover their tracks. 

Falcon says its efforts to recover and reinvent itself since it shut shop in Singapore have paid off.

“Clearly exceeding regulatory requirements, we had a consolidated capital adequacy ratio of over 20 per cent and a solid liquidity cushion of around 140 per cent at the end of January 2017,” the group said. 

Falcon added that is has taken “relentless action” to address remaining legacy issues and has made “good progress” in strengthening its compliance and risk framework to meet FINMA, the Swiss financial regulator, requirements. 

Meanwhile, the group said Lennart Blecher will step down from his role as chairman after spending nearly 13 years in the seat. Christian Wenger succeeds Blecher as chairman. He has been a member of the board since 2005. Murtadha Al Hashmi, a board member since 2005, is now vice chairman.

Joining the board as new members are Marc Bernegger, Martin Keller and Dominik Schärer.

Bernegger is a financial technology, or fintech, expert, according to Falcon. He has founded various online platforms and is an investor in start-ups. 

Keller has extensive experience in building and running global finance businesses, with a focus on asset management, private wealth management and capital markets, Falcon says. 

Schärer has more than 30 years' experience in financial services and specialises in institutional work. From 2007 until last year, he was chairman of Merrill Lynch Capital Markets in Zurich, Switzerland. 

“Our reputation and our financial stability are of utmost importance,” said Walter Berchtold, Falcon's chief executive. “With the completion of our financial restructuring and the de-risking of our client-book we have laid the foundation for long-term success. We are highly confident of our capabilities to create sustainable value for clients, employees and our shareholder alike."