Swiss-based Falcon Private Bank is to open a representative office in Abu Dhabi in order to increase its presence in the United Arab Emirates.

The announcement follows recent news of management changes as well as the firm noting growth by 50 per cent in net new money in private banking.

"I am convinced that its reorganised and highly specialised management team and the upcoming opening of a new representative office in Abu Dhabi will enable Falcon Private Bank to maintain its focus on establishing a particularly firm foothold in the United Arab Emirates," HE Khadem Al Qubaisi, chairman of Aabar Investments PJSC, the parent company of Falcon, said in a statement.

The new office will be located in Das Commercial Tower in the Khalidiya area and is scheduled to open during the first quarter of 2011.

Falcon Private Bank has branches and representative offices in Geneva, Hong Kong, Singapore and Dubai.