08.09.2016

1MDB: Falcon's new CEO to resolve Singapore issues

400Walter Berchtold, the new CEO of Falcon Private Bank, is to resolve issues faced by its Singapore unit in connection with the 1Malaysia Development Berhad (1MDB) scandal. Berchtold, who will officially assume the role next month, plans to travel to Singapore upon assuming office, Swiss business paper Handelszeitung reported. 

Falcon is under scrutiny in Singapore after the central bank disclosed in late July that an onsite inspection of the group in April 2016 found "substantial breaches" of anti-money laundering regulations. Earlier reports said Falcon had been blocked from taking on new business in Singapore by the Monetary Authority of Singapore (MAS). The Zurich-based private bank  has neither confirmed nor denied the rumor.

The former chairman of Falcon, Khadem Al Qubaisi, was recently arrested in Abu Dhabi as part of the graft investigation into 1MDB by the Abu Dhabi authorities.


Events


Semptember 2015
  • 22
    Nov

    Part I: Basics (“GIPS beginners”) - Part II: Recent Developments and Update from the GIPS Commit

  • 22
    Nov

    This seminar provides both “GIPS beginners” (part I and II) and “GIPS experts” (part II) wit

  • 23
    Nov

    Der SWISS FUND DAY ist eine Initiative, welche im Jahr 2006 von verschiedenen Vertretern der Fonds-

  • 23
    Nov

    Am Sustainable Investments Day teilen Expertinnen und Experten ihre Erfahrung auf dem Gebiet nachhal

  • 17
    Jan

    Learn about the latest Cryto Currency and Blockchain investment opportunities, the features that set

See All

newsletter

Updates and news from MarketPlus

Market Overview
0,00 %
0,00 %
0,00 %
0,00 %
0,00 %
0,00 %
0,00 %
0,00 %
Powered by Yahoo Finance