Falcon Private Bank has appointed Walter Berchtold as its new CEO, replacing Eduardo Leemann who will continue to serve at the Swiss bank as a senior advisor.
Berchtold, who has an experience of over three decades in the banking industry, will assume the new role on 1 October 2016.
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He was appointed as head of private banking at Credit Suisse Group in 2004, but in 2011 gave up the operational responsibility. However, he remained as chairman at the private banking unit.
He served as member of the Credit Suisse Group executive board between 2003 and 2012. Since then, he has been serving as an independent financial industry expert.
Falcon Private Bank chairman of the board of directors Murtadha al Hashmi said: "Eduardo Leemann informed the Board beginning of 2015 that he wanted to retire from the operational management at the age of 60. He has characterised the Bank's entrepreneurial spirit and achieved great results.
“In the name of the Board I want to express my sincere thanks to him for his excellent work and for preparing a prosperous future for Falcon Private Bank. With his extensive international experience in private banking and the financial markets, Walter Berchtold was the ideal candidate to first join the Board and now succeed Eduardo Leemann as CEO of Falcon Private Bank."
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