Falcon Private Bank, a Swiss private banking boutique, has appointed Martin Keller as its chief executive officer, taking over from Walter Berchtold, effective today (September 6).

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.

Wenger said: “Walter Berchtold took charge at a critical moment for the bank. Thanks to his knowhow, commitment and decisive action, we have been able to turn around the bank in a short period of time and to position it for future growth. We are grateful to Walter for his service, sincerely thank him for his work, and wish him all the best for the future.”

Wenger added: "Keller joined our board earlier this year. I am very pleased that we are able to recruit a strong CEO from within our ranks and to ensure a smooth handover. Martin has a successful track record in the areas that are of highest importance for our clients.”

Berchtold said: "I have been honoured to work with my colleagues at Falcon Private Bank. Their knowhow, enthusiasm and commitment are exceptional. Having resolved the major issues from the past, Falcon Private Bank now has the talents, the positioning and
infrastructure to grow and to succeed.”

Keller, a Swiss citizen, has been a member of the board of directors of Falcon Private Bank since March 2017. His career in banking and finance spans over more than 25 years and was focused on asset management, capital markets and wealth management. Most recently he was CEO of asset management for EMEA at Credit Suisse.

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.  - TradeArabia News Service