Falcon Private Bank names chairman

Falcon Private Bank, which is owned by an Abu Dhabi sovereign fund, has appointed Roberto Grassi as chairman, replacing Christian Wenger.

Earlier this month, the firm revealed that both Wenger and Walter Berchtold, the former chief executive, would step down. At the time, Martin Keller was named as the new chief executive.

“We will continue to focus on initiatives strengthening our position as [a] wealth manager embracing digital innovations and a differentiated product offering for the benefit of our clients,” said Keller.

Since 2001, Grassi has served as chief executive of Fidnam Group, a consultancy based in Lugano. He has also served as deputy chairman of Banca Stato Cantone Ticino and is deputy chairman of the Lugano Commodity Trading Association.

Based in Switzerland, Falcon Private Bank is owned by Aabar Investments, whose largest stakeholder is the International Petroleum Investment Company, which is in turn owned by the Abu Dhabi sovereign fund Mubadala.

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