October 5, 2016 / 1:17 PM / in a year

Swiss private bank Falcon says not up for sale

ZURICH, Oct 5 (Reuters) - Switzerland’s Falcon Private Bank is not up for sale, the bank said on Wednesday, knocking down a media report its new chief executive is under pressure to find a buyer days into the job.

“Falcon Private Bank is not and was not for sale,” the Zurich-based bank, owned by Abu Dhabi sovereign wealth fund International Petroleum Investment Co (IPIC), said in a statement.

Swiss finance blog InsideParadeplatz on Wednesday reported its owners had given Chief Executive Walter Berchtold, in the job since Oct. 1, a directive to sell the bank.

The report cited Geneva-based Banque Heritage as a possible buyer. Falcon said it had never held talks with Heritage over a possible sale. (Reporting by Brenna Hughes Neghaiwi)

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