Abu Dhabi’s Falcon says close to goal of $1bn in assets - ArabianBusiness.com

Falcon Private Bank, the Swiss bank owned by Abu Dhabi’s Aabar Investments, is close to reaching its target of $1bn in assets under management out of the UAE by the year-end.

The Zurich-based bank, which saw inflows of $541m in net new money in the first two months of the year, had assets valued at $950m as of September 2011, it said in a statement.

“In line with expansion plans, Falcon Private Bank set a target of increasing assets under management from the UAE to $1bn by the end of 2011,” the firm said on Sunday.

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