The international wealth and asset management arm of Switzerland's Falcon Private Bank is extending its geographic reach.

Falcon Private Wealth has received final regulatory approval to operate from the Dubai International Financial Centre.

Under the "3c licence" type, granted by the Dubai Financial Services Authority, the bank will be in a position to serve private clients and wealthy families in the Middle East and North Africa. 

“Our new DIFC licence will enable us to strengthen our local wealth management capabilities and provide clients with even more customised financial services,” said Eduardo Leemann, chief executive of Falcon Private Wealth's parent, Falcon Private Bank.

“This step emphasises our strong commitment to the United Arab Emirates and aims to support our growth plans in the Middle East and North Africa region,” added Erich Pfister, global head of private banking and chairman of Falcon Private Wealth Dubai.

Falcon Private Bank is headquartered in Zurich. As well as Dubai, it operates from Geneva, London, Singapore and Abu Dhabi.

For a recent article by Falcon Private Bank's chief investment officer, David Prinkerton, on growth prospects in Southeast Asia, click here.