Zurich-based Falcon Private Bank has appointed Gregor Hubler to head up its new Middle Eastern representative office in Abu Dhabi, which is due to open next month.

Zurich-based Falcon Private Bank has appointed Gregor Hubler to head up its new new Middle Eastern representative office in Abu Dhabi, which is due to open next month.

Hubler was latterly head of wealth management products at Abu Dhabi Commercial Bank, having previously held a number of senior roles at the likes of JP Morgan, Merrill Lynch and Credit Suisse.

Falcon has set out ambitious medium-term growth plans and is looking to garner an additional $20 billion in new money in the next five years by tapping the increasingly affluent emerging markets – particularly the Middle East.

Over 2010 the bank’s total new money went from $12.2 billion to $12.75 billion, of which $540 million was generated from the UAE. Earlier this month chief executive Eduardo Leemann told Arabian Business that the bank has set itself a target of $1 billion in Middle Eastern assets by the end of this year – double its current AuM in the region. He additionally said that after expanding in what it regards as the key Gulf states of Saudi Arabia, Qatar and Kuwait, Falcon plans to look to Indonesia, China and Russia for growth.

Falcon, which used to be part of the US insurance giant AIG and is now owned by Aabar Investments, has been present in the Middle East since 2008, when it opened its Dubai representative office.