Abu Dhabi’s Falcon Private Bank signals wind down with client transfer talks – ZAWYA

Abu Dhabi’s Falcon Private Bank signals wind down with client transfer talks – ZAWYA

The logo of Swiss Falcon Private Bank, owned by Abu Dhabi's International Petroleum Investment Co (IPIC), is seen at its headquarters in Zurich, Switzerland September 22, 2016.. ZURICH- Falcon Private Bank signalled its winding down on Monday, as the Swiss wealth manager involved in Malaysia's 1MDB scandal said it was in advanced talks to transfer clients to another Swiss bank and exit private banking activities.. Last month, Reuters reported that the private bank owned by Abu Dhabi state fund Mubadala Investment Company MUDEV.UL was preparing to go out of business.. Falcon gained global prominence in 2015 after it was reported that investigators found nearly $700 million had been transferred from an account at the bank's Singapore outpost to accounts in Malaysia linked to then Prime Minister Najib Razak..