The firm has appointed a new finance chief, chief operating officer and head of human resources.
Swiss-based Falcon Private Bank, the parent of which is seeking to sell it off, has appointed Dr Matteo Maccio as its chief financial officer, Alaistair Fiddes as its chief operating officer and Marc Ritzl as head of human resources.
These senior management appointments come after this publication reported in May that Mubadala, Middle East-based owner of Falcon, is struggling to offload the firm as investors are unwilling to part with cash for a company affected by a money laundering scandal that saw it ordered to cease operating in Singapore.
Maccio, previously from Banque Cramer, will join on 1 December and will be a member of the executive committee. He replaces Dr Urs Zgraggen. Fiddes will join as COO, a newly-created role, on 1 August and will also be a member of the executive committee. For the last nine years, he has been working at Mubadala Development Company in Abu Dhabi.
Ritzl will join Falcon from Banque Internationale à Luxembourg (Suisse) on 1 September 2018. Ritzl replaces René Flück who has decided to retire after 32 years with Falcon.
The changes mean that the executive committee of Falcon Group will consist of Martin Keller, chief executive; Bruno Meyer, chief risk officer; Maccio, (as of December 2018); and Fiddes (as of August 2018).
"These nominations are instrumental in laying a new foundation for our future development and growth,” said Keller. “I am convinced that our new colleagues will make valuable contributions on our way forward and I'm looking forward to working with them."