Aabar Investments-owned Falcon Private Bank said that it will continue to provide custodian services to its UK clients, whose wealth management needs will be served by Dolfin.
Tuesday 19, February 2019 BY KUDAKWASHE MUZORIWA
Switzerland's Falcon Private Bank will halt operations in the UK market and sell the assets of its London-based Falcon Private Wealth unit to Dolfin Financial, reported Reuters.
In a statement, the lender stated that the sale reflected its strategic priorities to focus on select markets via main platforms in Zurich and Dubai.
Martin Keller, the Chief Executive of Falcon, said that the company regrets withdrawing from the UK market, but it is the right step for Falcon to take.