Walter Berchtold to hand over the CEO responsibilities of Falcon Private Bank — Martin Keller to succeed as CEO

Zurich — Falcon Private Bank announces the change from Walter Berchtold as Chief Executive Officer to Martin Keller, effective today. After having ensured a seamless CEO succession, Christian Wenger announced that he would step down as Chairman following the CEO change. His successor will be appointed in due course.

The decision by Walter Berchtold to step down as the CEO of Falcon Private Bank follows the completion of the first stage of the turnaround ahead of the launch of the new market positioning of Falcon Private Bank, scheduled for the fourth quarter of 2017. Walter Berchtold will remain with the Bank during a short transition period. Christian Wenger will ensure a smooth handover to the new Chairman until later in the fourth quarter.

Christian Wenger, Chairman of the Board of Directors said: “Walter Berchtold took charge at a critical moment for the Bank. Thanks to his knowhow, commitment and decisive action, we have been able to turn around the Bank in a short period of time and to position it for future growth. We are grateful to Walter for his service, sincerely thank him for his work, and wish him all the best for the future.”

Christian Wenger added: “Martin Keller joined our Board earlier this year. I am very pleased that we are able to recruit a strong CEO from within our ranks and to ensure a smooth handover. Martin has a successful track record in the areas that are of highest importance for our clients.”

Walter Berchtold, the departing CEO of Falcon Private Bank said: “I have been honoured to work with my colleagues at Falcon Private Bank. Their knowhow, enthusiasm and commitment are exceptional. Having resolved the major issues from the past, Falcon Private Bank now has the talents, the positioning and infrastructure to grow and to succeed.”