MEDIA RELEASE
Zurich, Switzerland, and London, United Kingdom, April 2, 2013 - Falcon Private Bank Ltd. completes the acquisition of Clariden Leu (Europe) Ltd. Effective 31 March 2013, the London-based asset manager will conduct its business under a new name and ownership as Falcon Private Wealth Ltd.
Falcon Private Wealth, based in Knightsbridge, London, is authorized and regulated by the United Kingdom's Financial Services Authority (FSA) and is now a wholly owned subsidiary of Falcon Private Bank, Switzerland. Falcon Private Wealth is an international private asset management firm offering tailored wealth management services to global clients with a strong focus on the Middle East and Africa, Eastern Europe, Asia and other emerging markets.
"We are delighted to welcome Falcon Private Wealth on board and to further strengthen our position as a leading emerging market-focused wealth management group," said Eduardo Leemann, Chief Executive Officer of Falcon Private Bank. "We are impressed by the professionalism and dedication of the management team and staff, who have positioned themselves as a leading asset manager for global high and ultra high net worth clients," Eduardo Leemann added.
"We are proud to be part of a strong and dynamic group with an in-depth understanding of emerging markets and service excellence," said Graham Stapeley, designated Chairman of Falcon Private Wealth. "Falcon Private Wealth will continue to be a leading London-based asset management firm that combines UK asset management tradition with Swiss wealth management expertise for global high net worth clients."
Nick McCall, the newly appointed Chief Executive Officer of Falcon Private Wealth, added: "With a new name and a strong owner that shares our values, we look forward to continuing to offer our clients the distinctive personal and tailor-made service experience that they have come to expect from our staff."
Falcon Private Wealth, based in London, UK, is a wholly owned subsidiary of Falcon Private Bank Ltd.
The purchase price for the transaction has not been disclosed.
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FALCON PRIVATE WEALTH LTD. is an international asset management firm based in London, United Kingdom. The private company offers tailored wealth management services to clients across the globe, including in the Middle East and Africa, Eastern Europe, Asia and other emerging markets. Falcon Private Wealth is a wholly owned subsidiary of Falcon Private Bank Ltd. and is authorized and regulated by the Financial Services Authority (FSA). www.falconprivatewealth.com
FALCON PRIVATE BANK LTD. is an experienced Swiss private bank specialized in asset management for high net worth private clients and families. Its clients all over the world enjoy the benefits of over 40 years of experience in Swiss private banking and the financial strength and solidity of its owner aabar Investments PJS. Falcon Private Bank is based in Zurich, Switzerland with branches and representative offices in Geneva, Abu Dhabi, Dubai, Hong Kong and Singapore. www.falconprivatebank.com
MEDIA CONTACT:
IRENE FRANCO
Falcon Private Bank Ltd.
Head of Communications, Media Relations
+41 44 227 57 32
irene.franco@falconpb.com
www.falconprivatebank.com
