Zurich-based Falcon Private Bank, acquired by Abu Dhabi-based Aabar Investments PJSC in April 2009, is set to expand its operations in the Middle East.

Chief executive Eduardo Leemann told Gulf News that the bank has been serving private clients in the region for some time, having opened an office in Dubai in 2008.

It now intends to target individuals with a minimum $5m to invest, offering a combination of decades of private banking and asset management expertise, alongside the stability of government backing.

The ultimate owner of the bank is the government of Abu Dhabi. Aabar Investments PJSC is a company investing globally across sectors with significant long-term growth potential. International Petroleum Investment Company, an investment company wholly owned by the government of Abu Dhabi, owns 95.3% of the shares in Aabar.

Falcon has 280 staff at its Zurich head office, as well as branches and representative offices in Geneva, Hong Kong, Singapore, Abu Dhabi and Dubai.The bank also holds 42.5% of Bank Zweiplus, with the other 57.5% owned by controlling shareholder Bank Sarasin &Cie AG.

In January, Falcon launched the Falcon Menasa Focused Fixed Income fund to invest in strong emerging economies in the Middle East, North Africa and South-East Asia. Domiciled in Luxembourg and investable for qualified investors, it aims to achieve higher risk adjusted returns.