May 11, 2020 / 1:04 PM / a month ago

Falcon Private Bank to exit private banking activities

ZURICH, May 11 (Reuters) - Falcon Private Bank, a Swiss wealth manager that was at the centre of Malaysia’s 1MDB scandal, is in advanced negotiations to transfer client relationships to another Swiss bank and exit private banking activities in 2021, it said on Monday.

Reuters reported last month that the private bank owned by Abu Dhabi state fund Mubadala Investment Company was preparing to wind down and trying to sell parts of its customer base. (Reporting by Michael Shields Editing by David Goodman )

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below