Swiss Private Bank Hurt By 1MDB Scandal Carves Out Risk Officer Role

Josh O'Neill

20 April 2017

A Swiss private bank that was forced to shut shop in Singapore last year amid probes into the notorious 1MDB scandal has hired a new chief risk officer.

has appointed Bruno Meyer as its new CRO and member of its executive board, effective 1 July. The role is newly-created.

Credit Suisse veteran Meyer's career spans more than 20 years, and he is described by Falcon as a “senior professional with a proven international track record”. He held various positions with Switzerland's second-largest lender, mainly within risk management and finance areas. Most recently, he was head of risk analytics and communication at Credit Suisse.

Meyer is also chief executive and board member of the Swiss Risk Association, a non-profit organisation and forum that facilitates discussions on financial engineering and risk management.

In his new role, Meyer will report to Walter Berchtold, CEO of Falcon Group.

Once his appointment is solidified, the bank's executive board will comprise Walter Berchtold, Urs Zgraggen, Erich Pfister, Arthur Vayloyan and Meyer.

"The appointment of Bruno Meyer, a very senior risk and banking professional, complements our executive board ideally,” said Berchtold. “His appointment is crucial in our strategic repositioning and in further strengthening our compliance and risk framework.”