Falcon Private Bank plans to expand its offering and has hired a new head of products for the purpose. The new manager has ample experience in private banking.
Zurich-based Falcon has hired its third former banker of Cramer & Cie: Xavier Clavel will start as global head of products and investments on Monday, the said in a statement on Friday.
Clavel left Cramer, a Geneva-based private bank, one-and-a-half years ago. He had been in charge of the global private-banking business of the bank. Since his departure from Cramer, he worked as an advisor for private equity firms. Clavel has been charged with expanding the products and services offering of Falcon.
Turnaround
The Zurich-based firm has already two former Cramer bankers recently. In January, Falcon appointed Placido Albanese as head of its advisory services. He was chief investment officer at Cramer. In December, the former chief risk officer of Cramer, Matteo Maccio, joined as chief financial officer.
Falcon CEO Martin Keller in December told finews.com that the bank would hire a number of bankers, showing that the company has turned the corner following its difficulties in recent years.
