New CEO To Take Helm At Falcon Private Bank

Tom Burroughes

1 September 2016

in 2004. In 2011 he gave up the operational responsibility and continued to serve as chairman of the private banking division. From 2003 until 2012, Berchtold was member of the bank’s executive board. Since then he has been acting as an independent financial industry expert.

Among other recent appointments, in May this year the bank elected H E Khaled Balama AlTameemi as a board member. AlTameemi has held various executive roles; since 2008 he has been executive director of the real estate department at Abu Dhabi Investment Council and on the board of a number of entities, including the Central Bank of the UAE since 2008.

The bank, which has a presence in Switzerland, London, Abu Dhabi, Singapore and Dubai, has recently been touched by controversy. In July, the Monetary Authority of Singapore, the city-state’s regulator, said it had found control failings and other shortcomings at Falcon, as well as UBS, Standard Chartered and DBS as the watchdog probes transactions linked to scandal-hit Malaysian state-fund fund, 1MDB. (For more detail, see here.) Falcon said it is co-operating with investigations.